Sugar declines on mounting stocks, weak demand

NEW DELHI: Sugar dropped by Rs 20 per quintal at the wholesale market in the national capital today, due to mounting stocks in the market following sustained supplies from millers.

However, scattered demand from retailers limited the losses.

Marketmen said bumper stock position following persistent supplies from millers mainly weighed on sugar prices, that is prevailing at seven-year low.

Sugar mill delivery M-30 and S-30 prices declined from Rs 2,185-2,285 and Rs 2,175-2,275 to end at Rs 2,170-2,265 and Rs 2,160-2,255 per quintal.

In the millgate section, sugar Kinnoni, Asmoli, Malakpur and Dhanora fell by Rs 20 each to Rs 2,265, Rs 2,160 and Rs 2,200 per quintal.

Prices of Mawana, Khatuli, Bulandshaher and Chandpur also eased by Rs 15 each to conclude at Rs 2,230, Rs 2,260 and rest both at Rs 2,170 per quintal.