Sugar prices dropped by Rs 25 per quintal in the national capital today following ample supply amid reduced offtake by stockist and bulk consumers.
Market analysts said higher supplies in the market after the government allocated higher current month quota for the sale in the open market against lower demand from consuming industries mainly kept pressure on the sweetener prices in the wholesale market.
Sugar ready medium and second grade prices declined by Rs 25 to settle at Rs 2,950-3,075 and Rs 2,925-3,040 per quintal, respectively.
Mill delivery medium and second grade prices also slipped by Rs 20 to settle at Rs 2,800-2,950 and Rs 2,790-2,930 per quintal, respectively.
Following were today's quotation per quintal.
Sugar ready M-30 2,950-3,075 and S-30 2,925-3,040
Mill delivery M-30 2,800-2,950 and S-30 2,790-2,930
Sugar mill gate prices (excluding duty): Kinonni 2,950, Asmoli 2,940, Mawana 2,880, Titabi 2,870, Thanabhavan 2,780, Budhana 2770 and Dorala 2,860