Sugar declines on huge stocks, ample supply

NEW DELHI: Sugar prices drifted by Rs 30 per quintal in the national capital today, following huge ready stocks position amid reduced offtake.

Marketmen said besides easy availability on increased selling by mills, slackness in demand, mainly pulled down sweetener prices.

Sugar mill delivery M-30 and S-30 prices dropped from Rs 3,040-3,205 and Rs 3,030-3,190 to close at Rs 3,010-3,195 and Rs 3,000-3,175 per quintal.

Sugar ready M-30 and S-30 prices also eased to settle at Rs 3,240-3,330 and Rs 3,220-3,220 instead of Rs 3,250-3,350 and Rs 3,230-3,330 per quintal.

Among millgate section, sugar Anupshar dropped by Rs 30 to Rs 3,030 per quintal.

Sugar Mawana, Dorala, Ramala, Baghpat, Sakoti and Nazibabad also fell by Rs 20 each to Rs 3,120, Rs 3,100, Rs 3,045, Rs 3055, Rs 3050 and Rs 3040 per quintal, respectively.