Sugar ends lower on sluggish demand, adequate supply

NEW DELHI: The wholesale sugar market ended on a bearish note in the national capital today as prices fell on stockists selling against sluggish demand.

Marketmen said stockists selling against sluggish demand and sufficient supplies from producing regions mainly kept pressure on sugar prices.

Sugar ready M-30 and S-30 eased to Rs 2930-3200 and Rs 2920-3190 against last close of Rs 2950-3220 and Rs 2940-3210 per quintal, respectively.

Mill delivery M-30 and S-30 were also quoted lower at Rs 2770-3060 and Rs 2760-3050 instead of Rs 2790-3070 and Rs 2780-3060 per quintal, respectively.

In the millgate section, Mawana, Kinnoni and Asmoli fell to Rs 2865, Rs 3060 and Rs 3020 against last close of Rs 2910, Rs 3070 and Rs 3030 per quintal, respectively.

Modingar, Dhampur, Ramala and Bulandshar were also enquired lower at Rs 2850, Rs 2845, Rs 2800 and Rs 2830 from previous levels of Rs 2880, Rs 2860, Rs 2810 and Rs 2860 per quintal, respectively.

The following are today's quotations per quintal: Sugar ready: M-30 Rs 2,930-3,200, S-30 Rs 2,920-3,190. Mill delivery: M-30 Rs 2,770-3,060; S-30 Rs 2,760-3,050. Sugar mill gate (including duty): Mawana 2865, Kinnoni 3,060, Asmoli 3,020, Dorala 2855, Budhana 2865, Thanabhavan 2860, Dhanora 2850, Simbholi 3,045, Modi Nagar Rs 2,850, Khatuli 3,025, Dhampur 2,845, Ramala 2,800, Bulandshar 2,830, Anupshar 2,790, Baghpat 2,820, Morna 2,815, Sakoti 2,860, Chandpur 2,845, Amroha N.T. and Nazibabad 2,790.