Sugar declines on supply pressure

Sugar prices fell by Rs 50 per quintal at the wholesale market in the national capital today amid huge stocks following persistent supplies by mills.
Marketmen said adequate stocks position following persistent supplies by mills mainly pulled down sweetener prices.
However, scattered demand from bulk consumers and retailers, capped the losses.
Sugar ready M-30 and S-30 prices fell by Rs 50 each to settle at Rs 2,720-2,860 and Rs 2,710-2,850 per quintal.
Mill delivery M-30 and S-30 prices also fell by Rs 30 each to Rs 2,560-2,700 and Rs 2,550-2,690 per quintal.
In the millgate section, sugar Asmoli, Mawana, Kinnoni and Dorala weakened by Rs 30 each to Rs 2,630, Rs 2,620, Rs 2,700 and Rs 2,630 per quintal.

Prices of Budhana and Thanabhavan also eased by Rs 20 each at Rs 2,610 and Rs 2,600, while Modinagar by Rs 15 at Rs 2,575 per quintal.

Following are today's quotations (in Rs per quintal)
Sugar retail markets - Rs 30.00-34.00 per kg.
Sugar ready: M-30 Rs 2,720-2,860 S-30 Rs 2,710-2,850.
Mill delivery: M-30 Rs 2,560-2,700 S-30 Rs 2,550-2,690.
Sugar millgate (including duty): Mawana Rs 2,620, Kinnoni Rs 2,700, Asmoli Rs 2,630, Dorala Rs 2,630, Budhana Rs 2,610, Thanabhavan Rs 2,600, Dhanora Rs 2,610, Simbholi Rs 2,690, Modi Nagar Rs 2,575, Khatuli Rs 2,700, Dhampur 2,570, Ramala Rs 2,600, Bulandshahr Rs 2,600, Anupshar Rs 2,590, Baghpat Rs 2,610, Morna Rs 2,610, Sakoti Rs 2,570, Chandpur Rs 2,590, Nazibabad Rs 2,590.