Sugar prices slip on selling pressure

Sugar prices declined by Rs 25 per quintal in the national capital today on stockists selling against reduced offtake.

Marketmen said ample supply from mills ahead of month-end, created a huge stocks position in market and pulled down the sweetener's prices.

Sugar ready medium and second grade prices dipped by Rs 25 to settle at Rs 3,000-3,125 and Rs 2,975-3,100 from Rs 3,000-3,150 and Rs 2,975-3,125 per quintal, respectively.

Mill delivery medium and second grade prices also fell from Rs 2,825-2,975 and Rs 2,805-2,965 to close at Rs 2,800-2,950 and Rs 2,790-2,940 per quintal, respectively.

Following are today's rates in Rs per quintal: 

Sugar ready M-30 3,000-3,125 and S-30 2,975-3,100
Mill delivery M-30 2,825-2,950 and S-30 2,790-2,940

Sugar mill gate prices (excluding duty): Kinonni 2,910, Asmoli 2,900, Mawana 2,860, Titabi 2,850, Thanabhavan 2,810, Budhana 2800, and Dorala 2,870