Sugar prices plunge on bumper stock, weak demand

Sugar prices dropped by Rs 100 per quintal at the wholesale market in the national capital Friday following muted demand amid bumper stock.

Marketmen said apart from weak demand from stockists and bulk consumers, bloated stocks position on regular supplies from mills, mainly pulled down sweetener prices.

Sugar production is estimated to have touched a record 32 million tonnes in the 2017-18 season (October-September), as against 20.3 million tonnes in the previous year.

Sugar mill delivery M-30 and S-30 prices tumbled down by Rs 100 each to end the day at Rs 3,160-3,380 and Rs 3,150-3,370 per quintal.

Sugar ready M-30 and S-30 prices also plunged by Rs 80 each to conclude the day at Rs 3,420-3,620 and Rs 3,410-3,610 per quintal.

In the mill gate section, sugar Kinnoni lost the most by Rs 100 to Rs 3,380, followed by Asmoli dipped by Rs 90 to Rs 3,340 and Khatuli slipped by Rs 80 to Rs 3,350, while Mawana dropped by Rs 75 to Rs 3,260 per quintal.

Prices of Dorala, Budhana and Thanabhavan slide by Rs 70 each to Rs 3,260, Rs 3,250 and Rs 3,240, while Shamli slipped by Rs 65 to Rs 3,185 per quintal.

Following are today's quotations (in Rs per quintal)