Sugar prices settle lower on ample supply, weak demand

Sugar prices dropped by Rs 50 per quintal at the wholesale market in the national capital today following constant supplies from mills amid selective buying by stockist and bulk consumers.

Marketmen said mounting of stocks on relentless arrivals from mills along with limited buying by stockist and bulk consumers such as soft-drink and ice-cream makers mainly pulled down sweetener prices.

Sugar ready M-30 and S-30 prices declined by Rs 50 each to settle at Rs 3,850-3,920 and Rs 3,840-3,910 per quintal.

Mill delivery M-30 and S-30 prices also traded lower by Rs 40 each to end at Rs 3,540-3,640 and Rs 3,530-3,630 per quintal.
 

In millgate section, sugar Anupshaher, Baghpat, Morna, Nazibabad and Ramala all slipped by Rs 50 each to Rs 3,545, Rs 3,555, Rs 3,550, Rs 3,545 and Rs 3,550 per quintal.

Prices of Simbholi, Sakoti, Kinnoni, Chandpur and Dhampur also fell up to Rs 40 to settle at Rs 3,625, Rs 3,590, Rs 3,640, Rs 3,590 and Rs 3,565 per quintal respectively.

Following are today's quotations (in Rs per quintal)

Sugar retail markets - Rs 40.00-43.00 per kg.

Sugar ready: M-30 Rs 3,850-3,920, S-30 Rs 3,840-3,910.

Mill delivery: M-30 Rs 3,540-3,640, S-30 Rs 3,530-3,630.

Sugar millgate (including duty): Mawana Rs N.Q., Kinnoni Rs 3,640, Asmoli Rs 3,630, Dorala Rs 3,600, Budhana Rs 3,600, Thanabhavan Rs 3,595, Dhanora Rs 3,630, Simbholi Rs 3,625, Khatuli Rs 3,620, Dhampur Rs 3,565, Ramala Rs 3,550, Anupshaher Rs 3,545, Baghpat Rs 3,555, Morna Rs 3,550, Sakoti Rs 3,590, Chandpur Rs 3,590, Nazibabad Rs 3,545, Modinagar N.Q., Shamli 3,585 and Nanota 3,545.