Sugar tumbles on rising stocks

Sugar prices tumbled by Rs 50 per quintal in the national capital today on rising stocks following ample supply from mills amid reduced offtake.

Marketmen said fall in demand from retailers and bulk consumers, sparked by heavy supply from mills, brought down the sugar prices.

Sugar ready medium and second grade prices lost from Rs 3,100-3,200 and Rs 3,075-3,175 to settle at Rs 3,050-3,150 and Rs 3,025-3,125 per quintal.

Mill delivery medium and second grade price also declined from Rs 2,850-3,000 and Rs 2,825-2,975 to conclude at Rs 2,800-2,950 and Rs 2,790-2,940 per quintal, respectively. 

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

Sugar ready M-30 3,050-3,150 and S-30 3,025-3,125
Mill delivery M-30 2,800-2,950 and S-30 2,790-2,940

Sugar mill gate prices (excluding duty): Kinonni 2,930, Asmoli 2,910, Mawana 2,880, Titabi 2,870, Thanabhavan 2,840, Budhana 2835 and Dorala 2,875