Sugar closes lower on ample supply, reduce offtake

NEW DELHI: The wholesale sugar prices fell by Rs 25 per quintal in the national capital today largely on ample supplies from mills amid reduced offtake.

Marketmen said apart from ample supplies, reduced offtake by stockists due to subdued demand from bulk consumers such as soft drink and ice-creame makers, mainly put pressure on the sweetner prices.

Sugar spot M-30 and S-30 prices dropped from Rs 3,220-3,320 and Rs 3,200-3,300 to finish at Rs 3,200-3,300 and Rs 3,180-3,280 per quintal.

Mill deliery M-30 and S-30 prices also fell from Rs 3,060-3,200 and Rs 3,050-3,180 to conclude at Rs 3,060-3,180 and Rs 3,050-3,160 per quintal.

Among millgate including duty section, sugar Mawana lost Rs 20 at Rs 3,140 and Kinnoni slipped by Rs 25 at Rs 3,220 per quintal.

Sugar Sakoti and Baghpat also moved down by Rs.15 each to both settle at Rs 3085 per quintal.