Sugar prices fall on weak demand, increase supply

NEW DELHI: Sugar prices dropped by Rs 100 per quintal in the national capital today following increased supply amid reduced offtake.

Marketmen said sustained arrivals from mills against reduced offtake by stockist and bulk consumers such as softdrink and ice-cream making industries mainly pulled down the sweetener prices.

Lower advices from neighbouring states and slackness in demand from retailers also influenced the prices, they added.

Sugar ready M-30 and S-30 prices quoted lower at Rs 3,900-4,000 and Rs 3,875-3,975 instead of Rs 3,950-4,100 and Rs 3,925-4,075 per quintal.

Mill delivery M-30 and S-30 prices also enquired lower at Rs 3,600-3,970 and Rs 3,575-3,950 compared from overnight close of Rs 3,625-4,050 and Rs 3,600-4,025 per quintal.