Sugar tumbles on supply pressure, weak demand

Sugar plunged by Rs 50 per quintal at the wholesale market in the national capital today following persistent supplies from mills amidst slackened demand form bulk consumers as well as stockists.
Marketmen said the persistent fall in sweetener prices was mostly due to ample stocks in the market following persistent supplies from mills amidst record output estimates this marketing year.
Besides, reports of weak overseas trends due to surplus stocks following bumper crop in Brazil, dampened sentiments here.
Sugar ready M-30 and S-30 price slipped by Rs 30 each to end at Rs 2,320-2,420 and Rs 2,310-2,410 per quintal.
Similarly, mill delivery M-30 and S-30 prices enquired lower by Rs 25 each to Rs 2,200-2,275 and Rs 2,190-2,265 per quintal.

In the millgate section, sugar Anupshar, Morana and Nazibabad

lost Rs 50 each at Rs 2,260, Rs 2,270 and Rs 2,260 per quintal.
Meanwhile, Asmoli, Bulandshaher, Ramala, Chandpur and Baghpat fell by Rs 40 each at Rs 2,230, Rs 2,200, Rs 2,280, Rs 2,200 and Rs 2,300 per quintal.
Following are today's quotations (in Rs per quintal)
Sugar retail markets - Rs 25.00-30.00 per kg.
Sugar ready: M-30 Rs 2,320-2,420 S-30 Rs 2,310-2,410.
Mill delivery: M-30 Rs 2,200-2,275 S-30 Rs 2,190-2,265.
Sugar millgate (including duty): Mawana Rs 2,265, Kinnoni Rs 2,275, Asmoli Rs 2,230, Dorala Rs 2,245, Budhana Rs 2,225, Thanabhavan Rs 2,215, Dhanora Rs 2,230, Simbholi Rs 2,280, Modi Nagar Rs Not Traded, Khatuli Rs 2,275, Dhampur 2,220, Ramala Rs 2,280, Bulandshaher Rs 2,200, Anupshaher Rs 2,260, Baghpat Rs 2,300, Morna Rs 2,270, Sakoti Rs 2,240, Chandpur Rs 2,200, Nazibabad Rs 2,260 and Malakpur 2,215.