Sugar settles lower on ample supply, weak demand

Sugar prices ended lower by up to Rs 40 per quintal at the wholesale market in the national capital today owing to persistent supplies from mills amid selective buying by stockists and bulk consumers.
Marketmen said besides mounting stocks in the markets on persistent supplies by mills, subdued demand from bulk consumers, such as soft-drink, ice-cream makers, mainly kept pressure on the sweetner prices.
Sugar ready M-30 and S-30 prices slipped by Rs 40 each to settle at Rs 2,760-3,000 and Rs 2,740-2,980 per quintal.
Mill delivery M-30 and S-30 prices also edged lower by Rs 30 each to finish at Rs 2,670-2,860 and Rs 2,660-2,810 per quintal.

In the millgate section, sugar Kinnoni and Chandpur lost Rs 30 each at Rs 2,860 and Rs 2,670, while Simbholi fell by Rs 25 at Rs 2,880 per quintal.
Prices of Asmoli, Budhana and Modinagar eased by Rs 20 each at Rs 2,880, Rs 2,800 and Rs 2,770 per quintal respectively.

Following are today's quotations (in Rs per quintal)
Sugar retail markets - Rs 30.00-34.00 per kg.
Sugar ready: M-30 Rs 2,760-3,000 S-30 Rs 2,740-2,980.
Mill delivery: M-30 Rs 2,670-2,860 S-30 Rs 2,660-2,810.
Sugar mill gate (including duty): Mawana Rs 2,800, Kinnoni Rs 2,860, Asmoli Rs 2,880, Dorala Rs 2,770, Budhana Rs 2,800, Thanabhavan Rs 2,790, Dhanora Rs 2,730, Simbholi Rs 2,880, Modi Nagar Rs 2,770, Khatuli Rs 2,855, Dhampur 2,760, Ramala Rs 2,710, Bulandshahr Rs 2,730, Anupshahr Rs 2,690, Baghpat Rs 2,720, Morna Rs 2,730, Sakoti Rs 2,710, Chandpur Rs 2,670, Nazibabad Rs 2,700.