Sugar softens on ample stock, muted demand

Sugar saw a modest fall of up to Rs 10 per quintal in its prices at the wholesale market in the national capital following bumper stocks on persistent supplies from mills amid scattered buying by stockists and bulk consumers.

Marketmen said the huge positions of stock in the market on record output coupled with limited buying by stockists and bulk consumers, such as soft-drink and ice-cream makers mainly pulled down sweetener prices.

Sugar production is estimated to have touched a record 32 million tonnes in the 2017-18 season (October-September), as against 20.3 million tonnes in the previous year, while the demand is around 25 million tonnes, which put weighed on sugar prices.

Sugar ready M-30 and S-30 prices closed lower by Rs 10 each to Rs 3,370-3,470 and Rs 3,360-3,460 per quintal.

Mill delivery M-30 and S-30 prices also eased by Rs 10 each to finish the day at Rs 3,100-3,245 and Rs 3,090-3,235 per quintal.

In the mill gate section, sugar Kinnoni, Asmoli, Budhana, Thanabhavan, Shamli and Malakpur lost Rs 10 each to conclude at Rs 3,245, Rs 3,220, Rs 3,145, Rs 3,135, Rs 3,100 and Rs 3,120 per quintal, respectively.

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