Sugar remains weak on sluggish demand

Sugar prices remained weak for the second straight day in the wholesale sugar market today on sluggish demand against adequate supply.

Market analysts said adequate stocks position against restricted buying activity in the face of heavy selling by millers mainly kept sugar remained weak. 

Sugar ready medium and second grade prices traded lower by Rs 10 each to Rs 2,940-3,065 and Rs 2,915-2,940 per quintal.

However, the sugar mill delivery medium and second grade remained steady at Rs 2,700-2,850 and Rs 2,685-2,825 per quintal. 

The following were today's quotation in Rs per quintal.

Sugar ready M-30 2,940-3,065 and S-30 2,915-2,940
Mill delivery M-30 2,700-2,850 and S-30 2,685-2,825

Sugar mill gate prices (excluding duty): Kinonni 2,900, Asmoli 2,880, Mawana 2,850, Titabi 2,820, Thanabhavan 2,790, Budhana 2785 and Dorala 2,835