Sugar Prices Decline On Low Demand, Ample Stocks

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Sugar: Weak conditions prevailed at the wholesale sugar market during the week as prices drifted down owing to reduced offtake by bulk consumers and stockists against ample stocks position on increased supplies from mills.

Marketmen said easing demand from bulk consuming such as ice-cream and soft drinks makers and stockists against sufficient stocks position on persistent supplies from mills mainly pulled down sugar prices.

In the national capital, sugar ready M-30 and S-30 slipped to Rs 3,450-3,560 and Rs 3,440-3,550 from previous levels of Rs 3,530-3,670 and Rs 3,520-3,670 per quintal, respectively.

Mill delivery followed suit and eased to Rs 3,150-3,340 and Rs 3,140-3,330 against last close of Rs 3,240-3,410 and Rs 3,230-3,400 per quintal, respectively.

A similar trend was extended to millgate section with, sugar Mawana, Kinnoni, Asmoli, Dorala, Budhana and Thanabhavan setttling lower at Rs 3,200, Rs 3,240, Rs 3,290, Rs 3,200, Rs 3,230 and Rs 3,225 as compared to previous levels of Rs 3,290, Rs 3,455, Rs 3,420, Rs 3,410, Rs 3,420 and Rs 3,420 per quintal, respectively.

Sugar Dhanora, Simbholi, Khatauli, Dhampur and Malakpur too quoted lower at Rs 3,300, Rs 3,300, Rs 3,310, Rs 3,170 and Rs 3,200 instead of Rs 3,390, Rs 3,420, Rs 3,460, Rs 3,280 and Rs 3,320 per quintal, respectively.

SOURCEPTI

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