Sugar weakens on ample supply, weak demand

Sugar prices fell by Rs 80 per quintal at the wholesale market in the national capital today following excess supplies from mills amid limited buying by stockists and bulk consumers.
Marketmen attributed the fall in sugar prices to ample stocks following persistent supplies from mills against slackened demand from bulk consumers.
Sugar ready medium and second grade prices dropped by Rs 80 each to settle at Rs 2,840-3,010 and Rs 2,830-3,000 per quintal.
Mill delivery M-30 and S-30 prices were down by Rs 30 each to end at Rs 2,650-2,860 and Rs 2,640-2,850 per quintal.
In the millgate section, sugar Sakoti slipped by Rs 30 at Rs 2,670, while Kinnoni, Khatuli and Dhampur fell by Rs 25 each at Rs 2,860, Rs 2,850 and Rs 2,650 per quintal.

Prices of Asmoli, Budhana, Simbholi and Thanabhavan also eased up to Rs 20 per quintal at Rs 2,860, Rs 2,710, Rs 2,860 and Rs 2,700 per quintal.

Following are today's quotations (in Rs per quintal)
Sugar retail markets - Rs 30.00-35.00 per kg.
Sugar ready: M-30 Rs 2,840-3,010, S-30 Rs 2,830-3,000.
Mill delivery: M-30 Rs 2,650-2,860, S-30 Rs 2,640-2,850.
Sugar millgate (including duty): Mawana Rs Not Quoted, Kinnoni Rs 2,860, Asmoli Rs 2,860, Dorala Rs 2,710, Budhana Rs 2,710, Thanabhavan Rs 2,700, Dhanora Rs 2,720, Simbholi Rs 2,860, Khatuli Rs 2,850, Dhampur 2,650, Ramala Rs 2,690, Bulandshaher Rs N.Q, Anupshaher Rs 2,670, Baghpat Rs 2,700, Morna Rs 2,700, Sakoti Rs 2,670, Chandpur Rs N.Q, Nazibabad Rs 2,680 and Malakpur NQ.