Sugar prices fall by Rs 50 on weak demand, excess supply

NEW DELHI: Wholesale sugar prices today fell by Rs 50 per quintal at local market due to heavy stocks position on persistent supplies by mills against weak demand.

Marketmen said bumper stocks position following persistent supplies from mills and low demand from bulk consumers mainly weighed on the prices.

Sugar mill delivery M-30 and S-30 prices declined from Rs 2,610-2,780 and Rs 2,600-2,750 to finish at Rs 2,580-2,775 and Rs 2,570-2,750 per quintal.

In the millgate section, sugar Dhanora, Dhampur, Bulandshar and Chandpur dropped by Rs 50 each to Rs 2,600, Rs 2,590, Rs 2,600 and Rs 2,590 per quintal respectively.

Prices of Dorala, Budhana, Thanabhavan, Modinagar and Sakoti also fell by Rs 30 each to Rs 2,620, Rs 2,645, Rs 2,630 and rest both at Rs 2,610 each per quintal.