Sugar prices slide on ample stocks, low demand

Sugar prices tumbled by Rs 30 per quintal at the wholesale market in the national capital today, dragged down by ample stocks in the market due to persistent supplies from millers amid low demand from bulk consumers.
Besides, higher output this marketing year and weak cues from overseas markets, too weighed on sweetener prices.
Sugar ready M-30 and S-30 prices were down by Rs 30 each to end at Rs 2,330-2,450 and Rs 2,320-2,440 per quintal.
Marketmen said apart from mounting stocks position in the market following persistent supplies from mills amidst higher output this season, mainly pulled down sweetener prices to multi-year lows.

In addition, sustained selling by mills to raise funds to clear farmers dues, too dampened sentiment, they added.
Similarly, mill delivery M-30 and S-30 fell by a similar margin to close at Rs 2,225-2,300 and Rs 2,215-2,290 per quintal.

In millgate section, sugar Mawana slipped by Rs 30 at Rs 2,280, while Budhana, Thanabhavan, Ramala, Baghpat, Nazibabad and Malakpur declined by Rs 20 each to Rs 2,250, Rs 2,240, Rs 2,320, Rs 2,340, Rs 2,310 and Rs 2,225 per quintal respectively.
Prices of Kinnoni, Asmoli, Dorala and Simbholi also lost Rs 15 each to Rs 2,300, Rs 2,270, Rs 2,260 and Rs 2,300 per quintal.

Following are today's quotations (in Rs per quintal)
Sugar retail markets - Rs 25.00-30.00 per kg.
Sugar ready: M-30 Rs 2,330-2,450 S-30 Rs 2,320-2,440.
Mill delivery: M-30 Rs 2,225-2,300 S-30 Rs 2,215-2,290.
Sugar millgate (including duty): Mawana Rs 2,280, Kinnoni Rs 2,300, Asmoli Rs 2,270, Dorala Rs 2,260, Budhana Rs 2,250, Thanabhavan Rs 2,240, Dhanora Rs 2,265, Simbholi Rs 2,300, Modi Nagar Rs Not Traded, Khatuli Rs 2,290, Dhampur 2,225, Ramala Rs 2,320, Bulandshaher Rs 2,240, Anupshaher Rs 2,310, Baghpat Rs 2,340, Morna Rs 2,330, Sakoti Rs 2,260, Chandpur Rs 2,240, Nazibabad Rs 2,310 and Malakpur 2,225.