Sugar prices drop on bumper stocks, thin demand

Sugar prices drop on bumper stocks, thin demand

Sugar prices dropped by Rs 50 per quintal at the wholesale market in the national capital today, dragged by ample stock positions against scattered demand.

Marketmen said, ample stock positions in the market amid scattered demand from stockists and bulk consumers, such as soft-drink and ice-cream makers, led to the fall in sweetener prices.

Sugar ready M-30 and S-30 prices dropped by Rs 50 each to close at Rs 3,600-3,750 and Rs 3,590-3,740 per quintal, respectively.

Mill delivery M-30 and S-30 prices also went down by Rs 40 each to end at Rs 3,280-3,440 and Rs 3,270-3,430 per quintal, respectively.

In the mill gate section, sugar Dhanora and Khatuli lost Rs 50 to settle at Rs 3,360 each per quintal.

Sugar Simbholi, Sakoti, Shamli and Malakpur also fell by Rs 40 each to Rs 3,370, Rs 3,290, Rs 3,280 and Rs 3,300 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 3,600-3,750, S-30 Rs 3,590-3,740.

Mill delivery: M-30 Rs 3,280-3,440, S-30 Rs 3,270-3,430.

Sugar millgate (including duty): Mawana Rs 3,360, Kinnoni Rs 3,440, Asmoli Rs 3,390, Dorala Rs 3,350, Budhana Rs 3,330, Thanabhavan Rs 3,320,

Dhanora Rs 3,360, Simbholi Rs 3,370, Khatuli Rs 3,360, Dhampur Rs 3,290, Sakoti 3,290, Modinagar 3,320, Shamli 3,280, 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: 25/07/2018