Sugar prices tumble on ample stocks; weak demand

Sugar prices nose dived by Rs 100 per quintal at the wholesale market in the national capital today, dragged down by mounting stocks following relentless supplies from mills amid muted demand form bulk consumers.

Marketmen said the fall in sweetener prices was mostly attributed to huge stocks in the market on persistent supplies from mills amid higher output reports.

Meanwhile, sugar production is estimated to rise by 45 per cent to record 29.5 million tonnes in the current marketing year on the back of higher cane output, reported industry body ISMA.

On the prices front, sugar mill delivery M-30 and S-30 dipped by Rs 100 to end the day at Rs 2,930-3,085 and Rs 2,920-3,075 per quintal.

Sugar ready M-30 and S-30 prices also slipped by Rs 40 each to Rs 3,150-3,310 and Rs 3,140-3,300 per quintal.

In the mill gate section, sugar Mawana, Kinnoni, Dorala, Sakoti, Modinagar, Budhana and Thanabhavan prices slumped by Rs 85 each to Rs 2,975, Rs 3,085, Rs 2,970, Rs 2,950, Rs 2,970 Rs 2.990 and Rs 2.980 per quintal.

Prices of Dhampur, Shamli and Malakpur slipped by RS 80 each to Rs 2,960, Rs 2,970 and Rs 2,955, while Simbholi and Khatuli dropped by Rs 70 each to Rs 3,070 and Rs 3,080 per quintal.

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