Sugar prices decline further on increase in supply

Sugar prices dropped further by Rs 25 per quintal in the national capital today following reduced offtake against ample supply.   

Market analysts said millers clearing their positions on approaching month end, flooded the market with adequate stocks.

They added reduced offtake at existing higher levels further fueled the down-trend. Sugar ready medium and second prices declined by Rs 25 each to settle at Rs 2,925-3,025 and Rs 2,900-3,020 per quintal, respectively.

Mill delivery medium and second grade prices also fell by Rs 15 to Rs 2,725-2,900 and Rs 2,700-2,975 per quintal, respectively.

Following were today's quotation in Rs per quintal.

 

Sugar ready M-30 2,925-3,025 and S-30 2,900-3,020
Mill delivery M-30 2,725-2,900 and S-30 2,700-2,875

Sugar mill gate prices (excluding duty): Kinonni 2,875, Asmoli 2,860, Mawana 2,820, Titabi 2,820, Thanabhavan 2,740, Budhana 2730 and Dorala 2,800