Sugar prices fall on large stocks position

Sugar prices dropped by Rs 25 per quintal in the national capital today, due to fall in demand amid ample supply.

Market analysts said large stocks position against reduced offtake mainly pulled down sugar spot prices.

Sugar ready medium grade prices drifted from Rs 3,000-3,125 to settle at Rs 2,975-3,100 per quintal.

Its second grade prices also slipped from Rs 2,980-3,100 to Rs 2,950-2,975 per quintal. 

The following were today's quotation in Rs per quintal.

Sugar ready M-30 2,975-3,100 and S-30 2,950-2,975
Mill delivery M-30 2,775-2,925 and S-30 2,760-2,900

Sugar mill gate prices (excluding duty): Kinonni 2,900, Asmoli 2,880, Mawana 2,840, Titabi 2,830, Thanabhavan 2,800, Budhana 2795 and Dorala 2,845