Sugar prices fall on bumper output, weak demand

Sugar prices fall on bumper output, weak demand

Sugar prices tumbled Rs 70 per quintal at the wholesale market in the national capital today on adequate position of ready stocks amid sluggish demand.Marketmen said huge position of ready stocks in the market amid reports of higher outputs, coupled with subdued demand from stockists and bulk consumers led to the fall in sweetener prices.According to International Sugar Merchant Association (ISMA), sugar production has been revised upward by 4 per cent to 26.1 million tonnes in the current marketing year.Sugar ready M-30 and S-30 prices slipped by Rs 70 each to end the day at Rs 3,230-3,450 and Rs 3,220-3,440 per quintal.Mill delivery M-30 and S-30 prices also slided by Rs 30 each to conclude the day at Rs 3,090-3,255 and Rs 3,080-3,245 per quintal.In the mill gate section, sugar Anupshaher and Baghpat dipped by Rs 40 each to Rs 3,090 and Rs 3,110, while Dhanora and Morna slipped by Rs 35 each to Rs 3,240 and Rs 3,105 per quintal.Prices of Ramala, Nazibabad and Nanota moved down by Rs 30 each to Rs 3,100, Rs 3,090 and Rs 3,100, while Asmoli lost Rs 25 at Rs 3,240 per quintal.Following are today’s quotations (in Rs per quintal)Sugar retail markets – Rs 33.00-36.00 per kg.Sugar ready: M-30 Rs 3,230-3,450, S-30 Rs 3,220-3,440.Mill delivery: M-30 Rs 3,090-3,255, S-30 Rs 3,080-3,245.Sugar millgate (including duty): Mawana Rs 3,165, Kinnoni Rs 3,255, Asmoli Rs 3,240, Dorala Rs 3,170, Budhana Rs 3,170, Thanabhavan Rs 3,165, Dhanora Rs 3,240, Simbholi Rs 3,230, Khatuli Rs 3,250, Dhampur Rs 3,1445, Ramala Rs 3,100, Anupshaher Rs 3,090, Baghpat Rs 3,110, Morna Rs 3,105, Sakoti Rs 3,140, Chandpur Rs 3,140, Nazibabad Rs 3,090, Modinagar 3,160, Shamli 3,135, and Nanota 3,100.

Source: business-standard:Published on 2018-01-24