Sugar weakens on bloated stocks, selective buying

Sugar prices dipped by Rs 100 per quintal at the wholesale market in the national capital today following bumper stocks amid need base offtake by stockists and bulk consumers.

Marketmen said, soaring stocks on steady inflow of supplies from mills along with selective demand from stockists and bulk consumers such as soft-drink and ice-cream makers, led to slide in sweetener's prices.

Prices of sugar ready M-30 and S-30 dropped the most by Rs 100 each to Rs 3,500-3,650 and Rs 3,490-3,640 per quintal, respectively.

Mill delivery M-30 and S-30 prices also declined by Rs 40 each to finish the day at Rs 3,240-3,400 per quintal, respectively.

In mill gate section, sugar Mawana slide by Rs 70 to Rs 3,290, Dorala too plunged by Rs 60 to Rs 3,290, while Asmoli, Dhanora and Dhampur lost Rs 50 each at Rs 3,340, Rs 3,310 and Rs 3,240 per quintal, respectively.

Prices of Budhana and Thanabhavan fell by Rs 45 each to end at Rs 3,285 and Rs 3,275, while Kinnoni, Simbholi and Modinagar moved down by Rs 40 each to Rs 3,400, Rs 3,330 and Rs 3,280 per quintal, respectively.

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