Sugar prices tumble on mounting stocks

Sugar prices fell Rs 50 per quintal at the wholesale market in the national capital today amid ample stocks following increased supplies from millers.
Marketmen said adequate stocks in the market following persistent supplies amdist estimates of higher output, dampened the trading sentiments.
Besides, a weak trend overseas continued to put pressure on the sweetener prices, they added.
Sugar ready M-30 and S-30 prices slipped by Rs 50 each to settle at Rs 2,350-2,480 and Rs 2,340-2,470 per quintal.
Mill delivery M-30 and S-30 prices also dropped Rs 45 each to close at Rs 2,235-2,330 and Rs 2,225-2,320 per quintal.

In millgate section, sugar Asmoli slid by Rs 50 at Rs 2,290, followed by Dhanora by Rs 45 at Rs 2,290 per quintal.

Sugar Kinnoni, Simbholi, Dhampur, Sakoti and Malakpur dipped by Rs 30 each to Rs 2,330, Rs 2,315, Rs 2,255, Rs 2,260 and Rs 2,255 per quintal.
Prices of Budhana, Thanabhavan, Mawana, Dorala and Bulandshaher also fell up to Rs 25 to Rs 2,285, Rs 2,275, Rs 2,305, Rs 2,295 and Rs 2,260 per quintal.
Following are today's quotations (in Rs per quintal)
Sugar retail markets - Rs 25.00-30.00 per kg.
Sugar ready: M-30 Rs 2,350-2,480 S-30 Rs 2,340-2,470.

Mill delivery: M-30 Rs 2,235-2,330 S-30 Rs 2,225-2,320.
Sugar millgate (including duty): Mawana Rs 2,305, Kinnoni Rs 2,330, Asmoli Rs 2,290, Dorala Rs 2,295, Budhana Rs 2,285, Thanabhavan Rs 2,275, Dhanora Rs 2,290, Simbholi Rs 2,315, Modi Nagar Rs 2,300, Khatuli Rs 2,315, Dhampur 2,255, Ramala Rs 2,330, Bulandshaher Rs 2,260, Anupshaher Rs 2,310, Baghpat Rs 2,360, Morna Rs 2,340, Sakoti Rs 2,260, Chandpur Rs 2,260, Nazibabad Rs 2,330 and Malakpur 2,255.