Sugar drops Rs 60 on ample stocks, weak demand

Sugar prices plummeted by Rs 60 per quintal at the wholesale market in the national capital today due to heavy stocks position following persistent supplies by mills.
However, summer season demand, limited the losses.
Marketmen said besides huge carry-over stocks, supply pressure from mills mainly dragged down the sweetener's prices.
They said, however summer season demand from stockists and bulk consumers such as soft-drink and ice-cream makers, restricted fall in sugar prices.
Sugar ready M-30 and S-30 prices were down by Rs 40 each to settle at Rs 2,520-2,640 and Rs 2,490-2,620 per quintal.
Similarly, mill delivery M-30 and S-30 fell by a similar margin to close the day at Rs 2,370-2,490 and Rs 2,350-2,460 per quintal.

In millgate section, sugar Anupshaher, Baghpat and Simbholi recorded the day's biggest fall of Rs 60 at Rs 2,370, Rs 2,390 and Rs 2,465 per quintal, respectively.

Prices of Asmoli dipped by Rs 50 at Rs 2,440, while Kinnoni, Khatuli and Sakoti slipped by Rs 40 each at Rs 2,490, Rs 2,465, Rs 2,380 per quintal.
Following are today's quotations (in Rs per quintal)
Sugar retail markets - Rs 29.00-33.00 per kg.
Sugar ready: M-30 Rs 2,520-2,640 S-30 Rs 2,490-2,620.
Mill delivery: M-30 Rs 2,370-2,490 S-30 Rs 2,350-2,460.
Sugar millgate (including duty): Mawana Rs 2,410, Kinnoni Rs 2,490, Asmoli Rs 2,440, Dorala Rs 2,420, Budhana Rs 2,410, Thanabhavan Rs 2,400, Dhanora Rs 2,410, Simbholi Rs 2,465, Modi Nagar Rs 2,420, Khatuli Rs 2,465, Dhampur 2,385, Ramala Rs 2,380, Bulandshaher Rs 2,390, Anupshaher Rs 2,370, Baghpat Rs 2,390, Morna Rs 2,390, Sakoti Rs 2,380, Chandpur Rs 2,390, Nazibabad Rs 2,370.