Sugar prices declined by Rs 50 per quintal in the national capital today on poor demand from retailers and bulk consumers, supported by ample supply from mills. Fresh selling by millers in the domestic market created adequate stocks position, which pulled down the prices.
Marketmen said selling pressure from mills, as they have to clear their allotted monthly quota amid weak demand from ice cream and soft drink makers, led to a fall in sugar prices.
Sugar spot medium and second grade prices dropped from Rs 2,725-2,825 and Rs 2,715-2,815 to settle at Rs 2,725-2,775 and Rs 2,715-2,765 per quintal.
Among the millgate section, sugar mawana slipped by Rs 20 to Rs 2,630 per quintal and titabi and dorala also eased by Rs 20 each to Rs 2,620 and Rs 2,610 per quintal.
Following are today's rates in Rs per quintal:
Sugar ready M-30 2,725-2,775 and S-30 2,715-2,765
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Mill delivery M-30 2,550-2,650 and S-30 2,525-2625
Sugar mill gate prices (excluding duty): Kinonni 2,700, Asmoli 2,690, Mawana 2,630, Titabi 2,620, Thanabhavan 2,610, Budhana 2,600 and Dorala 2,610