Sugar prices slip on large stocks, weak demand

Sugar prices tumbled by Rs 30 per quintal at the wholesale market in the national capital today following mounting stocks in the market on higher supplies from mills amidst scattered buying support.
Marketmen said huge stocks in the market following persistent supplies from mills against scattered buying support from bulk consumers put pressure on sweetener prices.
They said, however, hike in import duty by the government, capped the fall in prices.
Sugar ready M-30 and S-30 prices were down by Rs 30 each to Rs 3,220-3,370 and Rs 3,210-3,360 per quintal.
In a similar manner, prices of mill delivery M-30 and S-30 enquired lower by Rs 25 each to Rs 3,080-3,220 and Rs 3,060-3,200 per quintal, respectively.

In the millgate section, heaviest loss of Rs 30 per quintal was witnessed in governments mills of Chandpur at Rs 3,070.

Other co-operative and government mills fell up to Rs 20 per quintal, like Anupshar lost Rs 20 at Rs 3,080, Morana, Nazibabad and baghpat fell by Rs 10 each at Rs 3,110, Rs 3,100 and Rs 3,120 per quintal.
Meanwhile, private mills, Mawana, Kinnoni and Simbholi also dropped by Rs 25 each to Rs 3,145, Rs 3,220 and Rs 3,195 per quintal.
Following are today's quotations (in Rs per quintal)
Sugar retail markets - Rs 33.00-35.00 per kg.
Sugar ready: M-30 (Rs 3,220-3,370); S-30(Rs 3,210-3,360).

Mill delivery: M-30 (Rs 3,080-3,220);
S-30(Rs3,060-3,200).
Sugar mill gate (including duty): Mawana (Rs 3,145); Kinnoni (Rs 3,220); Asmoli (Rs 3,215); Dorala (Rs 3,125); Budhana (Rs 3,130); Thanabhavan (Rs 3,120); Dhanora (Rs 3,105); Simbholi (Rs 3,195); Modi Nagar (Rs 3,100); Khatuli (Rs 3,180); Dhampur (Rs 3,110); Ramala (Rs 3,110); Bulandshahr (Rs 3,100); Anupshahr (Rs 3,080); Baghpat (Rs 3,120); Morna (Rs 3,110); Sakoti (Rs 3,110); Chandpur (Rs 3,070) and Nazibabad (Rs 3,100).