Sugar prices drop on ample stocks, muted demand

Sugar prices drop on ample stocks, muted demand

Sugar prices were down by Rs 80 per quintal at the wholesale market in the national capital today on increased selling by stockists amid bumper stocks on unabated supplies from mills.

Marketmen said mounting stocks in the market due to uninterrupted supplies from mills amid record output against reduced offtake by bulk consumers, mainly pulled down sweetener prices.

Sugar mill delivery M-30 and S-30 prices settled lower by Rs 80 each to Rs 2,820-2,960 and Rs 2,810-2,950 per quintal.

Sugar ready M-30 and S-30 prices also dropped by Rs 40 each to Rs 3,060-3,160 and Rs 3,050-3,150 per quintal.

In the mill gate section, sugar Dhampur dipped by Rs 80 to Rs 2,820, while Kinnoni, Asmoli, Simbholi and Sakoti slipped by Rs 60 each to Rs 2,960, Rs 2,920, Rs 2,940 and Rs 2,840 per quintal.

Prices of Mawana, Budhana, Thanabhavan and Khatuli declined by Rs 55 each to Rs 2,865, Rs 2,880, Rs 2,870 and Rs 2,945, while Dorala lost Rs 50 at Rs 2,875 per quintal.

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

Sugar retail markets – Rs 31-34 per kg.

Sugar ready: M-30 Rs 3,060-3,160, S-30 Rs 3,050-3,150.

Mill delivery: M-30 Rs 2,820-2,960, S-30 Rs 2,810-2,950.

Sugar millgate (including duty): Mawana Rs 2,865, Kinnoni Rs 2,960, Asmoli Rs 2,920, Dorala Rs 2,875, Budhana Rs 2,880, Thanabhavan Rs 2,870, Dhanora Rs 2,950, Simbholi Rs 2,940, Khatuli Rs 2,945, Dhampur Rs 2,820, Sakoti 2,840, Modinagar 2,860, Shamli 2,860, Malakpur 2,855, Ramala not available, Anupshaher N.A, Baghpat N.A.,Morna N.A., Chandpur N.A., Nazibabad N.A and Nanota N.A.

Source: Business Standard – Published on: 09-04-2018