Sugar closes lower on increased supply

Sugar prices closed lower in the national capital today on the back of adequate stocks positions driven by release of free sale sugar quota for the current month.

Marketmen said government released free sale sugar quota for December month, which created adequate stocks position in the market.

They said supply edged over the ongoing marriage season demand.

Sugar ready medium and second grade prices fell from Rs 3,375-3,525 and Rs 3,350-3,500 to end at Rs 3,325-3,500 and Rs 3,300-3,490 per quintal, respectively.

Mill delivery medium and second grade prices also declined from Rs 3,200-3,450 and Rs 3,175-3,425 to close at Rs 3,200-3,350 and Rs 3,175-3,325 per quintal, respectively.

 

The following are today's quotations in rupees per quintal:

Sugar ready: M-30 3,325-3,500, S-30 3,350-3,490.

Mill delivery: M-30 3,200-3,400; S-30 3,175-3,350.

Sugar mill gate prices (excluding duty):

Mawana 3,330, Titabi 3,320, Thanabhavan 3,270, Budhana 3260 and Dorala 3,380.