Sugar prices slide on higher output, thin demand

Sugar prices slide on higher output, thin demand

Sugar prices fell by Rs 80 per quintal at the wholesale market in the national capital today, dragged down by ample stocks following increased supplies form mills amid thin demand from bulk consumers.

Marketmen attributed the fall in sweetener prices to adequate stocks positions following higher supply from mills amid reports of higher output.Besides, slackened demand from bulk consumers, put pressure on prices, they added.Sugar ready M-30 and S-30 prices were down by Rs 80 each to end the day at Rs 3,300-3,480 and Rs 3,290-3,470 per quintal.Similarly, mill delivery M-30 and S-30 prices also slipped by Rs 70 each to conclude at Rs 3,120-3,275 and Rs 3,110-3,265 per quintal.

In the millgate section, sugar Shamli dipped by Rs 60 to Rs 3,145, while Kinnoni, Dorala, Budhana and Thanabhavan lost by Rs 45 each to Rs 3,275, Rs 3,180, Rs 3,185 and Rs 3,180 per quintal, respectively.Following are today’s quotations (in Rs per quintal)Sugar retail markets – Rs 34.00-36.00 per kg.Sugar ready: M-30 Rs 3,300-3,480, S-30 Rs 3,290-3,470.Mill delivery: M-30 Rs 3,120-3,275, S-30 Rs 3,110-3,265.Sugar millgate (including duty): Mawana Rs 3,180, Kinnoni Rs 3,275, Asmoli Rs 3,265, Dorala Rs 3,180, Budhana Rs 3,185, Thanabhavan Rs 3,180, Dhanora Rs 3,275, Simbholi Rs 3,250, Khatuli Rs 3,265, Dhampur Rs 3,160, Ramala Rs 3,130, Anupshaher Rs 3,130, Baghpat Rs 3,150, Morna Rs 3,140, Sakoti Rs 3,160, Chandpur Rs 3,155, Nazibabad Rs 3,120, Modinagar 3,170, Shamli 3,145, and Nanota 3,130.

Source: business-standard:Published on 2018-01-22