Sugar prices plunge on ample stocks, low demand
Sugar recorded a fall of up to Rs 100 per quintal at the wholesale market in the national capital today, pulled down by mounting stocks following relentless supplies from mills.Marketmen said a steep fall in the sweetener prices was mostly attributed to adequate stocks position in the market due to supply pressure from mills against slackened demand from bulk consumers.Sugar ready M-30 and S-30 prices came down notably by Rs 100 each to conclude at Rs 3,480-3,630 and Rs 3,470-3,620 per quintal.Mill delivery M-30 and S-30 prices too plummeted by Rs 70 each to end the day at Rs 3,230-3,380 and Rs 3,220-3,370 per quintal.In the millgate section, Sugar Asmoli slipped by Rs 100 to finish at Rs 3,320, followed by Mawana, Kinnoni and Dorala dipped by Rs 70 each to Rs 3,300, Rs 3,380 and Rs 3,300 per quintal.Following are today’s quotations (in Rs per quintal)Sugar retail markets – Rs 36.00-40.00 per kg.Sugar ready: M-30 Rs 3,480-3,630, S-30 Rs 3,470-3,620.Mill delivery: M-30 Rs 3,230-3,380, S-30 Rs 3,220-3,370.Sugar millgate (including duty): Mawana Rs 3,300, Kinnoni Rs 3,380, Asmoli Rs 3,320, Dorala Rs 3,300, Budhana Rs 3,310, Thanabhavan Rs 3,300, Dhanora Rs 3,330, Simbholi Rs 3,350, Khatuli Rs 3,345, Dhampur Rs 3,245, Sakoti 3,270, Modinagar N. Q, Shamli 3,290, Malakpur 3,235, Ramala not available, Anupshaher N. A, Baghpat N. A.,Morna N.
Source: business-standard-Published on 2018-03-01