Sugar prices fall on ample stocks

The wholesale sugar prices dropped by Rs 25 per quintal today, amid ample supply and reduced offtake.

Market analysts said adequate stock position to meet current demand, mainly led to a fall in sugar prices.

The release of 15 lakh tonne free sale sugar quota for December also had some weight on prices, they added.

Sugar ready medium and second grade prices lost from Rs 3,050-3,250 and Rs 3,025-3,225 to settle at Rs 3,050-3,225 and Rs 3,025-3,200 per quintal, respectively.

Mill delivery medium and second grade price also slipped from Rs 2,900-3,125 and Rs 2,890-3,100 to finish at Rs 2,900-3,100 and Rs 2,890-3,075 per quintal, respectively.

Among millgate section, sugar kinnoni and asmoli dipped to quote at Rs 3,100 and Rs 3,090 per quintal respectively. 

Following are today's rates in Rs per quintal:

Sugar ready M-30 3,050-3,225 and S-30 3,025-3,200
Mill delivery M-30 2,900-3,100 and S-30 2,890-3,075
Sugar mill gate prices (excluding duty): Kinonni 3,100, Asmoli 3,090, Mawana 3,040, Titabi 3,020, Thanabhavan 2,970, Budhana 2960, and Dorala 3,040