Sugar tumbles on supply pressure; low demand

Sugar prices plunged by Rs 100 per quintal at the wholesale market in the national capital today, dragged down by supply pressure by mills amid weak demand.
Marketmen attributed steep fall in sweetener prices to pickup in supplies from mills and slackened demand from bulk consumers and retailers.
Meanwhile, sugar prices have fallen by almost Rs 200 per quintal on persistent supplies.
Sugar ready M-30 and S-30 prices tumbled by Rs 100 each to finish at 2,610-2,730 and Rs 2,600-2,720 per quintal, respectively.
Mill delivery M-30 and S-30 prices also dropped by Rs 40 each to end at Rs 2,380-2,620 and Rs 2,370-2,610 per quintal.

In the millgate section, sugar Mawana, Kinnoni, Dorala, Budhana, Simbholi, Khatuli, Anupshaher and Chandpur dropped by Rs 40 each to Rs 2,550, Rs 2,620, Rs 2,530, Rs 2,520, Rs 2,610,Rs 2,590, Rs 2,380 and Rs 2,440 per quintal.

Following are today's quotations (in Rs per quintal)
Sugar retail markets - Rs 26.00-31.00 per kg.
Sugar ready: M-30 Rs 2,610-2,730 S-30 Rs 2,600-2,720.
Mill delivery: M-30 Rs 2,380-2,620 S-30 Rs 2,370-2,610.
Sugar millgate (including duty): Mawana Rs 2,550, Kinnoni Rs 2,620, Asmoli Rs 2,560, Dorala Rs 2,530, Budhana Rs 2,520, Thanabhavan Rs 2,510, Dhanora Rs 2,490, Simbholi Rs 2,610, Khatuli Rs 2,590, Dhampur 2,470, Ramala Rs 2,380, Bulandshaher Rs 2,450, Anupshaher Rs 2,380, Baghpat Rs 2,390, Morna Rs 2,390,Sakoti Rs 2,410, Chandpur Rs 2,440, Nazibabad Rs 2,380 and Malakpur 2,470.