Sugar prices extend losses on increase supply
Millgate sugar prices fell further up to Rs 100 per quintal on the wholesale sugar market today on sustained selling by stockists amid increased supplies from mills.
By PTI |
NEW DELHI: Millgate sugar prices fell further up to Rs 100 per quintal on the wholesale sugar market today on sustained selling by stockists amid increased supplies from mills.
Traders said sustained selling by stockists due to increased supplies from millers after the government's fresh measures mainly pulled down sugar prices.
They said the government has asked mills to increase supply of sugar from October to meet the coming festival demand which dampened the market sentiment.
In the millgate section, Bundki and Chandpur lost Rs 50 each at Rs 2,900 and Rs 2,800 per quintal.
Titabi, Raninangal,Dorala and Sakoti were down by Rs 100 each to Rs 2,950, Rs 2,830, Rs 3,040 and Rs 2,870 per quintal.
In line with a weakening trend, Ramala and Samali lost Rs 75 and Rs 25 at Rs 2,750 and Rs 2,900 per quintal.
Traders said sustained selling by stockists due to increased supplies from millers after the government's fresh measures mainly pulled down sugar prices.
They said the government has asked mills to increase supply of sugar from October to meet the coming festival demand which dampened the market sentiment.
In the millgate section, Bundki and Chandpur lost Rs 50 each at Rs 2,900 and Rs 2,800 per quintal.
Titabi, Raninangal,Dorala and Sakoti were down by Rs 100 each to Rs 2,950, Rs 2,830, Rs 3,040 and Rs 2,870 per quintal.
In line with a weakening trend, Ramala and Samali lost Rs 75 and Rs 25 at Rs 2,750 and Rs 2,900 per quintal.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
