Sugar prices weaken on bumper stocks

Sugar prices dropped by Rs 90 per quintal at the wholesale market in the national capital today following bloated stocks amid scattered buying.

Marketmen said heavy stocks position in the market on constant supplies from mills against limited offtake by stockists and bulk consumers, such as soft-drink and ice-cream makers, mainly pulled down sweetener prices.

Sugar ready M-30 and S-30 prices settled lower by Rs 90 each at Rs 3,210-3,310 and Rs 3,200-3,300 per quintal.

Mill delivery M-30 and S-30 prices also dropped by Rs 45 each to end at Rs 2,970-3,125 and Rs 2,960-3,115 per quintal.

In the mill gate section, sugar Asmoli dipped by Rs 85 to Rs 3,045, Malakpur drifted lower by Rs 75 to Rs 2,975, Simbholi and khatuli lost Rs 65 each to Rs 3,050 and Rs 3,090 per quintal.

Prices of Modinagar declined by Rs 65 to Rs 2,985, while Dorala and Sakoti slipped by Rs 50 each to Rs 3,020 and Rs 2,990, per quintal.

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