Weekly Market Report - Sugar Report

Sugar: The wholesale sugar prices traded lower during the week under review following adequate stocks positions on increased arrivals against subdued demand and closed at Rs 80 per quintal.

Traders said increased arrivals from mills amid reduced offtake by retailers and bulk consumers such as soft drink and ice-cream makers led to decline in wholesale sugar prices.

Sugar ready medium and second grade prices fell by Rs 40 each to Rs 2,940-3,065 and Rs 2,915-2,940, respectively, as compared to last week's close of Rs 2,980-3,105 and Rs 2,955-2,980 per quintal, respectively.    

Sugar mill delivery medium and second grade also quoted lower by Rs 80 each to Rs 2,700-2,850 and Rs 2,685-2,825, respectively.

In the millgate section, Kinoni, Asmoli, Mawana and Titabi also traded lower by Rs 10 each to Rs 2,900, Rs 2,880, Rs 2,850 and Rs 2,820 per quintal, respectively.