Sugar prices plunged by Rs 100 per quintal in the national capital today on restricted buying in the face of ample supply from mill.
Marketmen said most of stockists were seen offloading their holdings after a constant fall in the sweetener prices in last few sessions.
They said expectations of better sugarcane crop this season following adequate rainfall further influenced the trading sentiment.
Sugar ready medium and second grade prices plunged from Rs 2,800-2,900 and Rs 2,790-2,890 to settle at Rs 2,700-2,850 and Rs 2,690-2,840 per quintal.
Mill delivery medium and second grade price also slid from Rs 2,650-2,750 and Rs 2,640-2,740 to Rs 2,580-2,700 and Rs 2,570-2,690 per quintal.
Following are today's rates in Rs per quintal:
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Sugar ready M-30 2,700-2,850 and S-30 2,690-2,840
Mill delivery M-30 2,580-2,700 and S-30 2,570-2690
Sugar mill gate prices (excluding duty): Kinonni 2,700, Asmoli 2,690, Mawana 2,630, Titabi 2,640, Thanabhavan 2,620, Budhana 2,620 and Dorala 2,625