Sugar prices plunge on fresh supply, low offtake

Sugar saw a steep fall of up to Rs 150 per quintal in its prices at the wholesale market in the national capital today following fresh supplies from mills amid selective offtake.
Marketmen said the resumption of supplies following end of auspicious "Kaanwar yatra" coupled with fall in demand from stockists and bulk consumers in view approaching month- end, mainly pulled the sweetener's prices sharply down.
Sugar ready M-30 and S-30 prices shattered by Rs 150 each to finish the day at Rs 4,050-4,150 and Rs 4,040-4,140 per quintal, respectively.
Mill delivery M-30 and S-30 prices also dropped by Rs 40 each to Rs 3,670-3,860 and Rs 3,660-3,850 per quintal, respectively.

In the millgate section, sugar Dhanora plunged the most by falling Rs 100 to Rs 3,750, followed by Asmoli and Shamli dipped by Rs 80 each to Rs 3,780 and Rs 3,740 and Khatuli by Rs 70 to Rs 3,820 per quintal respectively.
Sugar Dorala, Budhana, Thanabhava, Dhampur, Sakoti and Chandpur too lost Rs 60 each to Rs 3,770, Rs 3,760, Rs 3,755, Rs 3,740 and rest both at Rs 3,730 each, while Nanota slipped by Rs 50 to Rs 3,680 per quintal.

Following are today's quotations (in Rs per quintal)
Sugar retail markets - Rs 43.00-47.00 per kg.
Sugar ready: M-30 Rs 4,050-4,150, S-30 Rs 4,040-4,140.

Mill delivery: M-30 Rs 3,670-3,860, S-30 Rs 3,660-3,850.
Sugar millgate (including duty): Mawana Rs N.Q., Kinnoni Rs 3,860, Asmoli Rs 3,780, Dorala Rs 3,770, Budhana Rs 3,760, Thanabhavan Rs 3,755, Dhanora Rs 3,750, Simbholi Rs 3,840, Khatuli Rs 3,820, Dhampur Rs 3,740, Ramala Rs 3,700, Anupshaher Rs 3,670, Baghpat Rs 3,715, Morna Rs 3,700, Sakoti Rs 3,730, Chandpur Rs 3,730, Nazibabad Rs 3,680, Modinagar N.Q., Shamli 3,740 and Nanota 3,680.