Sugar prices slide on heavy supply, weak demand

Sugar prices dropped by Rs 50 per quintal at the wholesale market in the national capital today on adequate stocks following relentless supplies from mills amid muted demand from bulk consumers as well as retailers.
Marketmen said, steady flow of arrivals from mills amid slackened buying by stockists and bulk consumers such as soft- drink and ice-cream makers, pulled down sweetener prices.
Sugar ready M-30 and S-30 prices dipped by Rs 50 each to settle the day at Rs 3,750-3,850 and Rs 3,740-3,840 per quintal, respectively.
Mill delivery M-30 and S-30 prices also dipped by Rs 50 each to finish at Rs 3,410-3,570 and Rs 3,400-3,560 per quintal, respectively.

In the millgate section, sugar Kinnoni and Dorala lost Rs 50 each at Rs 3,570 and Rs 3,485, while Budhana, Mawana, Thanabhavan and Sakoti slipped by Rs 40 each to Rs 3,500, Rs 3,480, Rs 3,580 and Rs 3,460 per quintal, respectively.
Following are today's quotations (in Rs per quintal)

Sugar retail markets - Rs 37.00-40.00 per kg.
Sugar ready: M-30 Rs 3,750-3,850, S-30 Rs 3,740-3,840.
Mill delivery: M-30 Rs 3,410-3,570, S-30 Rs 3,400-3,560.
Sugar millgate (including duty): Mawana Rs 3,480, Kinnoni Rs 3,570, Asmoli Rs 3,540, Dorala Rs 3,485, Budhana Rs 3,500,Thanabhavan Rs 3,500, Dhanora Rs 3,510, Simbholi Rs 3,545, Khatuli Rs 3,530, Dhampur Rs 3,470, Ramala Rs 3,420, Anupshaher Rs 3,420, Baghpat Rs 3,430, Morna Rs 3,430, Sakoti Rs 3,460, Chandpur Rs 3,470, Nazibabad Rs 3,410 and Modi nagar 3,480.