Sugar weakens on higher supply, muted demand

Sugar prices dropped by Rs 90 per quintal at the wholesale market in the national capital today following constant arrivals from mills amid reduced offtake by stockists and bulk consumers.
Marketmen said increased arrivals from mills mainly kept pressure on sweetener prices but selective buying by stockists and bulk consumers, capped the losses.
Sugar ready M-30 and S-30 prices dipped by Rs 90 each to settle at Rs 3,980-4,030 and Rs 3,970-4,020 from Rs 4,050-4,120 and Rs 4,040-4,110 per quintal.
Mill delivery M-30 and S-30 prices declined by Rs 30 each to Rs 3,690-3,770 and Rs 3,680-3,710 per quintal.
In the millgate section, sugar Kinnoni, Dhanora, Khatuli and Chandpur slipped by Rs 30 each to Rs 3,770, Rs 3,700, Rs 3,750 and Rs 3,690, while Dorala, Simbholi and Modinagar slides by Rs 25 each to Rs 3,720,Rs 3,755 and Rs 3,705 per quintal.

Sugar Mawana, Thanabhavan, Budhana, Dhampur and Asmoli also fell by Rs 20 each to Rs 3,720, Rs 3,710, Rs 3,720, Rs 3,690 and Rs 3,720 per quintal, respectively.

Following are today's quotations (in Rs per quintal)
Sugar retail markets - Rs 42.00-46.00 per kg.
Sugar ready: M-30 Rs 3,980-4,030, S-30 Rs 3,970-4,020.
Mill delivery: M-30 Rs 3,690-3,770, S-30 Rs 3,680-3,760.
Sugar millgate (including duty): Mawana Rs 3,720, Kinnoni Rs 3,770, Asmoli Rs 3,720, Dorala Rs 3,720, Budhana Rs 3,720,Thanabhavan Rs 3,710, Dhanora Rs 3,700, Simbholi Rs 3,755, Khatuli Rs 3,750, Dhampur Rs 3,690, Ramala Rs 3,720, Anupshaher Rs 3,720, Baghpat Rs 3,740, Morna Rs 3,720, Sakoti Rs 3,700, Chandpur Rs 3,690, Nazibabad Rs 3,720 and Modinagar 3,705.