Sugar prices slip due to bumper stock, thin demand

Sugar prices fell by Rs 70 per quintal at the wholesale market in the national capital today following weak demand and soaring stocks.

Increase in monthly sugar quota by over 14 percent to 20 lakh tonnes for September, too, pulled down the trading sentiments in sugar prices.

Marketmen said besides, limited offtake by stockists and bulk consumers, bumper stocks position brought down the sugar prices.

Sugar mill delivery M-30 and S-30 prices declined by Rs 50 each to conclude at Rs 3,110-3,255 and Rs 3,100-3,245 per quintal, respectively.

Sugar ready M-30 and S-30 prices also dropped Rs 30 each to finish the day at Rs 3,380-3,480 and Rs 3,370-3,470 per quintal, respectively.

In the mill gate section, sugar Khatuli, Mawana, and Dorala lost Rs 70 each to conclude at Rs 3,230, Rs 3,145 and Rs 3,150 per quintal, respectively.

Sugar Kinnoni, Budhana, Thanabhavan, Modinagar and Shamli slide by Rs 60 each to Rs 3,255, Rs 3,155, Rs 3,145, Rs 3,130 and Rs 3,115 per quintal, respectively.

Following are today's quotations (in Rs per quintal)

Sugar retail markets - Rs 34-40 per kg.

Sugar ready: M-30 Rs 3,380-3,480, S-30 Rs 3,370-3,470.

Mill delivery: M-30 Rs 3,110-3,255, S-30 Rs 3,100-3,245.

Sugar millgate (including duty): Mawana Rs 3,145, Kinnoni Rs 3,255, Asmoli Rs 3,230, Dorala Rs 3,150, Budhana Rs 3,155, Thanabhavan Rs 3,145, Dhanora Rs 3,220, Simbholi Rs 3,220, Khatuli Rs 3,230, Dhampur 3,120, Sakoti 3,130, Modinagar 3,130, Shamli 3,115, Malakpur Rs 3,130, Ramala NA (not available), Anupshaher NA, Baghpat NA, Morna NA, Chandpur NA, Nazibabad NA and Nanota NA.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)