Sugar weakens further on bumper stocks

Sugar prices fell upto Rs 20 per quintal at the wholesale market in the national capital today following ample stocks in the market on continued supplies from mills.
Sugar ready M-30 and S-30 prices softened by Rs 20 each to end at Rs 2,500-2,630 and Rs 2,470-2,610 per quintal.
Similarly, mill delivery M-30 and S-30 prices eased by Rs 10 each to Rs 2,360-2,480 and Rs 2,340-2,450 per quintal.
In millgate section, sugar Kinnoni, Dorala, Budhana, Anupshaher and Chandpur shed Rs 10 each to Rs 2,480, Rs 2,410, Rs 2,400, Rs 2,360 and Rs 2,380 per quintal.
Marketmen said, however, approval of Rs 6,000 crore interest-free loan by the government to sugar mills to clear farmers' arrears did not have any immediate impact on the prices.

Moreover, huge stock positions in the market against low demand from bulk consumers and higher output estimates this marketing year pulled down the sugar prices, they said.

Following are today's quotations (in Rs per quintal)
Sugar retail markets - Rs 27.00-33.00 per kg.
Sugar ready: M-30 Rs 2,500-2,630 S-30 Rs 2,470-2,610.
Mill delivery: M-30 Rs 2,360-2,480 S-30 Rs 2,340-2,450.
Sugar millgate (including duty): Mawana Rs 2,410, Kinnoni Rs 2,480, Asmoli Rs 2,425, Dorala Rs 2,410, Budhana Rs 2,400, Thanabhavan Rs 2,390, Dhanora Rs 2,400, Simbholi Rs 2,455, Modi Nagar Rs 2,420, Khatuli Rs 2,455, Dhampur 2,380, Ramala Rs 2,375, Bulandshaher Rs 2,390, Anupshaher Rs 2,360, Baghpat Rs 2,390, Morna Rs 2,390, Sakoti Rs 2,380, Chandpur Rs 2,380, Nazibabad Rs 2,370.