Sugar prices dip on heavy stocks, weak demand

Sugar prices nose dived by Rs 180 per quintal at the wholesale market in the national capital today following good availability of stocks on non-stop supplies from mills against opportunistic buying by stockist and bulk consumers.

Marketmen said abound availability of stocks on relentless arrivals from mills along with dull demand from stockist and bulk consumers such as soft-drink and ice-cream makers, mainly led to steep fall in sweetener prices.

Sugar ready M-30 and S-30 prices tumbled down by Rs 180 each to settle at Rs 3,600-3,720 and Rs 3,590-3,710 per quintal.

Mill delivery M-30 and S-30 prices also dipped by Rs 180 each to conclude the day at Rs 3,350-3,480 and Rs 3,340-3,470 per quintal.
 

In mill gate section, sugar Kinnoni tumbled down by Rs 180 to Rs 3,480 per quintal.

Sugar Dorala and Shamli slipped by Rs 150 each to Rs 3,400 and Rs 3,370, while Mawana, Budhana and Thanabhavan plummeted by Rs 145 each to Rs 3,395, Rs 3,400 and Rs 3,395 per quintal, respectively.

Following are today's quotations (in Rs per quintal)

Sugar retail markets - Rs 37.00-41.00 per kg.

Sugar ready: M-30 Rs 3,600-3,720, S-30 Rs 3,590-3,710.

Mill delivery: M-30 Rs 3,350-3,480, S-30 Rs 3,340-3,470.

Sugar millgate (including duty): Mawana Rs 3,395, Kinnoni Rs 3,480, Asmoli Rs 3,420, Dorala Rs 3,400, Budhana Rs 3,400, Thanabhavan Rs 3,395, Dhanora Rs 3,440, Simbholi Rs 3,470, Khatuli Rs 3,480, Dhampur Rs 3,370, Sakoti 3,370, Modinagar N.Q, Shamli 3,370, Malakpur 3,365Ramala not available, Anupshaher N.A, Baghpat N.A.,Morna N.A., Chandpur N.A., Nazibabad N.A and Nanota N.A.