Sugar prices fall on ample supply, weak demand

NEW DELHI: Sugar prices drifted by Rs 30 per quintal in the national capital today following ample supply amid slackened demand.

Market sentiment dampened on increased supply on miller selling against reduced offtake.

Sugar spot M-30 and S-30 prices declined from Rs 3300-3420 and Rs 3275-3400 to settle at Rs 3280-3400 and Rs 3260-3375 per quintal, respectively.

Similarly, M-30 and S-30 prices also fell from Rs 3130-3220 and Rs 3110-3200 to end at Rs 3120-3210 and Rs 3100-3200 per quintal.

Among millgate including duty section, sugar Mawana and Dorala slipped by Rs 30 each to Rs 3280 and Rs 3190 per quintal, while sugar Modinagar eased by Rs 20 at Rs 3160 per quintal.

The following were today's quotations per quintal: Sugar ready: M-30 Rs 3,280-3,400, S-30 Rs 3,260-3,375. Mill delivery: M-30 Rs 3,120-3,210; S-30 Rs 3,100-3,200. Sugar mill gate (including duty): Mawana 3180, Kinnoni 3,280, Asmoli 3,250, Dorala 3,190, Budhana 3,190, Thanabhavan 3,190, Dhanora 3,220, Simbholi 3,270, Modi Nagar 3,160, Khatuli 3,170, Dhampur 3,170, Ramala 3,150, Bulandshar 3,170, Anupshar 3,120, Baghpat 3,160, Morna 3,150, Sakoti 3,160, Chandpur 3,150, Amroha 3,160 and Nazibabad 3130.