Sugar prices tumbled by Rs 55 per quintal at the wholesale market in the national capital today following record production amid limited offtake by stockists.
Marketmen said record production and need-based buying by stockists and bulk consumers mainly pulled down sugar prices.
According to the Indian Sugar Mills Association (ISMA), sugar production has crossed a record 31 million tonnes mark this year and the total production will be around 32 million tonnes at the end of the season.
Sugar ready M-30 and S-30 prices dropped by Rs 50 each to finish the day at Rs 2,800-2,940 and Rs 2,790-2,930 per quintal.
Mill delivery M-30 and S-30 prices declined by Rs 40 each to Rs 2,620-2,755 and Rs 2,610-2,745 per quintal.
In the millgate section, sugar Mawana, Dorala, Shamli and Malakpur dipped by Rs 55 each to Rs 2,670, Rs 2,665, Rs 2,640 and Rs 2,645, while Sakoti lost Rs 50 at Rs 2,645 per quintal.
Following are today's quotations (in Rs per quintal)
Sugar retail markets - Rs 29.00-32.00 per kg.
Sugar ready: M-30 Rs 2,800-2,940, S-30 Rs 2,790-2,930.
Mill delivery: M-30 Rs 2,620-2,755, S-30 Rs 2,610-2,745.
Sugar millgate (including duty): Mawana Rs 2,670, Kinnoni Rs 2,755, Asmoli Rs 2,720, Dorala Rs 2,665, Budhana Rs 2,685, Thanabhavan Rs 2,675, Dhanora Rs 2,720, Simbholi Rs 2,730, Khatuli Rs 2,735, Dhampur Rs 2,625, Sakoti 2,645, Modinagar 2,655, Shamli 2,640, Malakpur 2,645, Ramala not available, Anupshaher N.A, Baghpat N.A.,Morna N.A., Chandpur N.A., Nazibabad N.A and Nanota N.A.
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