Sugar prices slip on ample stock, weak demand

Sugar prices slip on ample stock, weak demand

Sugar prices dropped by Rs 80 per quintal at the wholesale market in the national capital today following mounting stocks on persistent supplies from mills amid limited offtake by stockists and bulk consumers.

Marketmen said adequate stocks position in the market on relentless supplies from mills amidst scattered demand from stockists and bulk consumers, mainly pulled down sweetener’s prices.

Sugar ready M-30 and S-30 prices declined by Rs 80 to end the day at Rs 3,400-3,630 and Rs 3,390-3,620 per quintal.Mill delivery M-30 and S-30 prices also slipped by Rs 20 each to settle at Rs 3,210-3,415 and Rs 3,200-3,405 per quintal.

In the millgate section, sugar Khatuli and Shamili, Modinagar and Sakoti slid by Rs 30 each to Rs 3,390, Rs 3,295, Rs 3,305 and Rs 3,295 per quintal.Sugar Kinnoni, Asmoli and Dhampur also fell by Rs 20 each to conclude at Rs 3,415, Rs 3,370 and Rs 3,290 per quintal.

Following are today’s quotations (in Rs per quintal)Sugar retail markets – Rs 35.00-38.00 per kg.Sugar ready: M-30 Rs 3,400-3,630, S-30 Rs 3,390-3,620.Mill delivery: M-30 Rs 3,210-3,415, S-30 Rs 3,200-3,405.Sugar millgate (including duty): Mawana Rs 3,330, Kinnoni Rs 3,415, Asmoli Rs 3,370, Dorala Rs 3,340, Budhana Rs 3,335, Thanabhavan Rs 3,330, Dhanora Rs 3,365, Simbholi Rs 3,385, Khatuli Rs 3,390, Dhampur Rs 3,290, Ramala Rs 3,220, Anupshaher Rs 3,220, Baghpat Rs 3,250, Morna Rs 3,240, Sakoti Rs 3,295, Chandpur Rs 3,290, Nazibabad Rs 3,210, Modinagar 3,305, Shamli 3,295, and Nanota 3,220.

Source: business-standard:Published on 2018-01-11