Sugar remains weak on bumper stocks, selective demand

Sugar tumbled by Rs 40 per quintal at the wholesale market in the national capital today following huge availability of stocks.

Marketmen said bloated ready stocks on steady inflow of arrivals from mills, sparked by limited offtake by stockist and bulk consumers such as soft drink and ice cream makers mainly led to fall in sweetener prices.

A couple of days ago, the government had withdrawn stocks holdings limits on sugar dealers in view of bumper production and ample availability of sugar in the market.

Sugar ready M-30 and S-30 prices quoted lower by Rs 40 each to settle the day at Rs 3,500-3,670 and Rs 3,490-3,660 per quintal, respectively.
 

Mill delivery M-30 and S-30 prices also lost Rs 10 each to end the day at Rs 3,270-3,445 and Rs 3,260-3,435 per quintal.

In millgate section, sugar Anupshaher, Khatuli, Simbholi, Dhampur, Ramala, Baghpat, Sakoti, Chandpur, Nazibabad, Modingar, Nanota and Shamli all fell by Rs 30 each to Rs 3,270, Rs 3,435, Rs 3,430, Rs 3,310, Rs 3,270, Rs 3,290, Rs 3,315, Rs 3,300, Rs 3,270, Rs 3,335, Rs 3,270 and Rs 3,335 per quintal respectively.

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

Sugar retail markets - Rs 36.00-39.00 per kg.

Sugar ready: M-30 Rs 3,500-3,670, S-30 Rs 3,490-3,660.

Mill delivery: M-30 Rs 3,270-3,445, S-30 Rs 3,260-3,435.

Sugar millgate (including duty): Mawana Rs 3,335, Kinnoni Rs 3,445, Asmoli Rs 3,430, Dorala Rs 3,345, Budhana Rs 3,340, Thanabhavan Rs 3,335, Dhanora Rs 3,425, Simbholi Rs 3,430, Khatuli Rs 3,435, Dhampur Rs 3,310, Ramala Rs 3,270, Anupshaher Rs 3,270, Baghpat Rs 3,290, Morna Rs 3,285, Sakoti Rs 3,315, Chandpur Rs 3,300, Nazibabad Rs 3,270, Modinagar 3,335, Shamli 3,335, and Nanota 3,270.