Sugar falls on mounting stocks, ample supply

NEW DELHI: Sugar prices declined up to Rs 40 per quintal in the national capital on Friday on the back of sustained supply against subdued demand. Marketmen said weak demand from stockists and bulk consumers amid higher supplies from mills pulled down sweetener prices.

Sugar mill delivery M-30 and S-30 prices slipped to settle at Rs 3,140-3,310 and Rs 3,110-3,300 compared with overnight close of Rs 3,140-3,340 and Rs 3,120-3,330 per quintal.

Sugar spot M-30 and S-30 prices eased by Rs 10 to Rs 3,270-3,470 and Rs 3,250-3,450 per quintal. In millgate section, sugar Dhampur dropped by Rs 40 to Rs 3,150 per quintal, while kinnoni and nizababad lost Rs 30 each at Rs 3,310 and Rs 3,150 per quintal. Prices of Dorala, Modinagar, Ramala and Baghpat also shed Rs 20 each to Rs 3,220, Rs 3,190, Rs 3,180 and Rs 3,190 per quintal, respectively.