Sugar prices decline Rs 50 per quintal on heavy stocks, limited offtake

Sugar prices fell by Rs 50 per quintal in the wholesale market here today due to increased stocks and weak demand from bulk consumers. Increased stocks after continued supplies from mills mainly pulled down sweetener prices, traders said.

Meanwhile, sporadic demand from bulk consumers ahead of festive season somewhat managed to cap heavy falls in sweetener prices, they added.

Sugar ready M-30 and S-30 prices dropped by Rs 50 each to end the day at Rs 3,440-3,540 and Rs 3,430-3,530 per quintal.

Mill delivery M-30 and S-30 prices shed by Rs 20 each to close at Rs 3,190-3,340 and Rs 3,180-3,330 per quintal.

In the mill gate section, sugar Mawana, Shamili, Dorala and Sakoti declined by Rs 50 each to conclude at Rs 3,230, Rs 3,190, Rs 3,230 and Rs 3,190 per quintal.

Sugar Budhana, Thanabhavan, Khatuli and Modinagar also dropped by Rs 40 each to Rs 3,225, Rs 3,220, Rs 3,215 and Rs 3,320 per quintal respectively.

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

Sugar retail markets - Rs 36-41 per kg.

Sugar ready: M-30 Rs 3,440-3,540, S-30 Rs 3,430-3,530.

Mill delivery: M-30 Rs 3,190-3,340, S-30 Rs 3,180-3,330.

Sugar millgate (including duty): Mawana Rs 3,230, Kinnoni Rs 3,340, Asmoli Rs 3,310, Dorala Rs 3,230, Budhana Rs 3,225, Thanabhavan Rs 3,215, Dhanora Rs 3,305, Simbholi Rs 3,310, Khatuli Rs 3,320, Dhampur Rs 3,190, Sakoti 3,190, Modinagar 3,220, Shamli 3,190, Malakpur Not Quoted, Ramala NA (not available), Anupshaher NA, Baghpat NA, Morna NA, Chandpur NA, Nazibabad NA and Nanota NA.