Sugar closes lower on heavy stocks

Sugar prices moved down by Rs 40 per quintal in the national capital today due to heavy stocks position amid increased supply and reduced offtake. 

Market analysts said adequate stocks position on fresh supply from mills mainly pulled down sugar prices.  

Sugar ready medium and second grade prices dropped by Rs 40 to end at Rs 2,850-2,940 and Rs 2,825-2,925 per quintal, respectively. 

Mill delivery medium and second grade prices also went down by Rs 30 each to Rs 2,650-2,850 and Rs 2,625-2,825 per quintal, respectively.  

Among millgate section, sugar titabi and dorala quoted lower at Rs 2,790 and Rs 2,780 per quintal, respectively.   

 

Following were today's quotation in Rs per quintal. 

Sugar ready M-30 2,880-2,980 and S-30 2,850-2,970
Mill delivery M-30 2,680-2,870 and S-30 2,655-2,845

Sugar mill gate prices (excluding duty): Kinonni 2,840, Asmoli 2,830, Mawana 2,780, Titabi 2,790, Thanabhavan 2,690, Budhana 2680 and Dorala 2,780