Sugar prices drop on ample supply, sporadic demand

Sugar prices dropped by Rs 30 per quintal at the wholesale market in the national capital today, dragged down by ample supplies against slackened demand.
Marketmen said huge stocks position on higher supplies by millers mainly led to the fall in sweetener prices.
Besides, a weak trend at futures trading and lower cues from international markets, too weighed on prices, they said.
Sugar ready M-30 and S-30 prices enquired lower by Rs 20 each to finish at Rs 2,600-2,720 and Rs 2,570-2,720 per quintal.
Similarly, mill delivery M-30 and S-30 traded lower by Rs 30 each to yield at Rs 2,420-2,570 and Rs 2,410-2,560 per quintal respectively.

In millgate section, sugar Kinnoni fell the most by Rs 30 at Rs 2,570, followed by Dhanora and Dhampur by Rs 25 each to Rs 2,475 and Rs 2,455 per quintal.

Prices of Asmoli, Dorala, Budhana, Thanabhavan, Ramala, Baghpat, Anupshaher, Morna and Nazibabad also fell by Rs 20 each to Rs 2,550, Rs 2,480, Rs 2,485, Rs 2,475, Rs 2,430, Rs 2,440, Rs 2,420, Rs 2,440 and Rs 2,420 per quintal respectively.
Following are today's quotations (in Rs per quintal)
Sugar retail markets - Rs 29.00-33.00 per kg.
Sugar ready: M-30 Rs 2,600-2,730 S-30 Rs 2,570-2,720.
Mill delivery: M-30 Rs 2,420-2,570 S-30 Rs 2,410-2,560.

Sugar millgate (including duty): Mawana Rs 2,475, Kinnoni Rs 2,570, Asmoli Rs 2,550, Dorala Rs 2,480, Budhana Rs 2,485, Thanabhavan Rs 2,475, Dhanora Rs 2,475, Simbholi Rs 2,555, Modi Nagar Rs 2,480, Khatuli Rs 2,570, Dhampur 2,455, Ramala Rs 2,430, Bulandshaher Rs 2,455, Anupshaher Rs 2,420, Baghpat Rs 2,440, Morna Rs 2,440, Sakoti Rs 2,450, Chandpur Rs 2,450, Nazibabad Rs 2,420.