Sugar prices fall on bloated stocks, low buying

Sugar prices fall on bloated stocks, low buying

Sugar prices went down by Rs 80 per quintal at the wholesale market in the national capital today mainly dragged by ample stocks and limited offtake by stockists and bulk consumers.

Marketmen said, ample stock positions following consistent supplies from mills amid selective buying by stockists and bulk consumers such as soft-drinks and ice-cream makers, pulled down sweetener’s prices.

In the price section, sugar ready M-30 and S-30 prices dropped by Rs 80 each to end the day at Rs 3,600-3,720 and Rs 3,590-3,710 per quintal, respectively.

Likewise, sugar mill delivery M-30 and S-30 prices fell by Rs 80 each to conclude the day at Rs 3,290-3,440 and Rs 3,280-3,430 per quintal, respectively.

In the mill gate section, sugar Kinnoni and Asmoli slid by Rs 80 each to Rs 3,440 and Rs 3,365, while Dhanora and Shamli slipped by Rs 70 each to Rs 3,390 and Rs 3,290 per quintal, respectively.

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

Sugar retail markets – Rs 35-41 per kg.

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

Mill delivery: M-30 Rs 3,290-3,440, S-30 Rs 3,280-3,430.

Sugar millgate (including duty): Mawana Rs 3,340, Kinnoni Rs 3,440, Asmoli Rs 3,365, Dorala Rs 3,330, Budhana Rs 3,320, Thanabhavan Rs 3,310, Dhanora Rs 3,390, Simbholi Rs 3,390, Khatuli Rs 3,400, Dhampur Rs 3,300, Sakoti 3,300, Modinagar 3,310, Shamli 3,290, Malakpur 3,300, Ramala NA (not available), Anupshaher NA, Baghpat NA, Morna NA, Chandpur NA, Nazibabad NA and Nanota NA.

Source: Business Standard – Published on: 17th July 2018