Sugar prices plunge on mounting stocks, weak demand

Sugar prices recorded a steep fall of Rs 100 per quintal to trade at fresh five-year lows at the wholesale market in the national capital on persistent supplies by mills amidst slackened demand from bulk consumers.
Besides, higher output reports and a weak trend in global markets weighed on the prices.
In millgate section, Bulandshar, Sakoti, Chandpur and Nazibabad fell by Rs 100 each at Rs 2,440, Rs 2,420, Rs 2,430 and Rs 2,460, respectively.
In line with overall trends, sugar Ramala and Anupshar fell by Rs 70 each at Rs 2,470 and Rs 2,450 per quintal, respectively.
Baghpat and Morna also dropped by Rs 70 each at Rs 2,480 per quintal.

Private mills, like Dhanora, Dhampur, Dorala, Mawana and Budhana also fell up to Rs 40 per quintal at Rs 2,450, Rs 2,440, Rs 2,435, Rs 2,440 and Rs 2,460 per quintal.

Sugar ready M-30 and S-30 prices slipped from Rs 2,580-2,740 and Rs 2,570-2,730 to end at Rs 2,560-2,710 and Rs 2,550-2,700 per quintal.
Similarly Mill delivery M-30 and S-30 prices declined to settle at Rs 2,400-2,560 and Rs 2,390-2,540 instead of Rs 2,450-2,580 and Rs 2,440-2,550 per quitnal.
Following are today's quotations (in Rs per quintal)
Sugar retail markets - Rs 30.00-34.00 per kg.
Sugar ready: M-30 Rs 2,560-2,710 S-30 Rs 2,550-2,700.

Mill delivery: M-30 Rs 2,400-2,560 S-30 Rs 2,390-2,540.
Sugar mill gate (including duty): Mawana Rs 2440, Kinnoni Rs 2,560, Asmoli Rs 2,550, Dorala Rs 2,435, Budhana Rs 2,460, Thanabhavan Rs 2,450, Dhanora Rs 2,450, Simbholi Rs 2,540, Modi Nagar Rs 2,435, Khatuli Rs 2,545, Dhampur 2,440, Ramala Rs 2,470, Bulandshahr Rs 2,440, Anupshar Rs 2,450, Baghpat Rs 2,480, Morna Rs 2,480, Sakoti Rs 2,420, Chandpur Rs 2,430, Nazibabad Rs 2,460.