Sugar prices tumble on ample stocks, weak demand

Sugar prices fell by up to Rs 60 to trade at fresh seven-year low at the wholesale market in the national capital today.
Ample stocks following persistent supplies by millers and estimates of record output pulled down the sugar prices here.
Besides, weak global cues following bumper crops and weak currency against the US dollar in Brazil, too weighed on sweetner prices, traders said.
Sugar ready M-30 and S-30 prices were down by Rs 60 each to trade at fresh seven-year low of Rs 2,400-2,580 and Rs 2,390-2,570 per quintal, rspectively.
Mill delivery M-30 and S-30 prices also shed Rs 20 each to end at Rs 2,280-2,370 and Rs 2,270-2,350 per quintal.

In the millgate section, sugar Mawana dropped by Rs 55 at Rs 2,335,while Ramala, Anupshaher, Baghpat and Morna by Rs 50 each to Rs 2,330, Rs 2,310, Rs 2,360 and Rs 2,340 per quintal, respectively.

Following are today's quotations (in Rs per quintal)
Sugar retail markets - Rs 25.00-30.00 per kg.
Sugar ready: M-30 Rs 2,400-2,580 S-30 Rs 2,390-2,570.
Mill delivery: M-30 Rs 2,280-2,370 S-30 Rs 2,260-2,350.
Sugar millgate (including duty): Mawana Rs 2,335, Kinnoni Rs 2,370, Asmoli Rs 2,350, Dorala Rs 2,330, Budhana Rs 2,310, Thanabhavan Rs 2,300, Dhanora Rs 2,340, Simbholi Rs 2,370, Modi Nagar Rs 2,320, Khatuli Rs 2,330, Dhampur 2,300, Ramala Rs 2,330, Bulandshaher Rs 2,280, Anupshaher Rs 2,310, Baghpat Rs 2,360, Morna Rs 2,340, Sakoti Rs 2,300, Chandpur Rs 2,280, Nazibabad Rs 2,330 and Malakpur 2,295.