Sugar closes lower on ample stocks, restricted demand

Sugar prices slipped by Rs 50 per quintal at the wholesale market in the national capital today, dragged down by ample ready stocks following increased supplies from mills amid slowdown in buying by bulk consumers and retailers.
Marketmen said huge stocks in the market following persistent supplies from mills which have to clear their stocks by the end of October, weighed on sweetener prices.
Slackness in demand at prevailing levels by stockists and bulk consumers such as soft-drinks, ice-creams and sweet makers, too kept pressure on the sweetener prices.
Meanwhile, the government had earlier imposed stock limits till October-end on sugar mills to keep sweetener prices under control during the festive season.

Sugar ready M-30 and S-30 prices looked down by Rs 50 each to settle at Rs 3,850-4,100 and Rs 3,840-4,090 per quintal.
Mill delivery M-30 and S-30 prices also dropped by Rs 30 each to finish at Rs 3,570-3,770 and Rs 3,560-3,760 per quintal.

In the millgate section, sugar dhampur suffered the most by falling Rs 40 at Rs 3,570, while dorala, dhanora, khatuli, ramala, anupshaher and chanpur shed Rs 30 each to Rs 3,640, Rs 3,610, Rs 3,770 and rest all three at Rs 3,570 each per quintal.
Following are today's quotations (in Rs per quintal)
Sugar retail markets - Rs 40.00-43.00 per kg.

Sugar ready: M-30 Rs 3,850-4,100, S-30 Rs 3,840-4,090.
Mill delivery: M-30 Rs 3,570-3,770, S-30 Rs 3,560-3,760.
Sugar millgate (including duty): Mawana Rs not traded, Kinnoni Rs N.T., Asmoli Rs 3,770, Dorala Rs 3,640, Budhana Rs N.T.,Thanabhavan Rs N.T., Dhanora Rs 3,610, Simbholi Rs 3,770, Khatuli Rs 3,770, Dhampur Rs 3,570, Ramala Rs 3,570, Anupshaher Rs 3,570, Baghpat Rs 3,590, Morna Rs 3,580, Sakoti Rs 3,610, Chandpur Rs 3,570, Nazibabad Rs 3,560, Modi Nagar 3,570 and Malakpur Rs N.T.