Sugar Prices Melt on Bumper Stock, Low Offtake

New Delhi, Sep 24: Sugar prices dropped by up to Rs 65 per quintal at the wholesale market in the national capital Monday following ample stocks on persistent supplies from mills amid reduced offtake by bulk consumers. Marketmen said ample availability of stocks on consistent supplies from mills amid reduced demand from stockists and bulk consumers mainly led to fall in sweetener's prices. Sugar Mill delivery M-30 and S-30 prices were down by Rs 50 each to end the day at Rs 3,130,3,330 and Rs 3,120-3,320 per quintal, respectively. Sugar ready M-30 and S-30 prices also declined by Rs 40 each to Rs 3,380-3,610 and Rs 3,370-3,600 per quintal, respectively. In the mill gate section, sugar Dorala, Budhana and Thanabhavan tumbled down by Rs 65 each to Rs 3,195, Rs 3,185 and Rs 3,175, while Mawana drifted by Rs 60 to Rs 3,200 per quintal, respectively. Sugar Kinnoni lost Rs 50 to Rs 3,330, Dhampur fell by Rs 40 to Rs 3,140 per quintal. Sugar Prices Steady on Scattered Buying.

Prices of Dhanora, Sakoti, Asmoli, Modinagar and Malakpur moved down by Rs 30 each to Rs 3,315, Rs 3,150, Rs 3,310, Rs 3,185 and Rs 3,170 per quintal, respectively. Following are today's quotations (in Rs per quintal)

Sugar retail markets - Rs 35-40 per kg. Sugar ready: M-30 Rs 3,380-3,610, S-30 Rs 3,370-3,600. Mill delivery: M-30 Rs 3,130-3,330, S-30 Rs 3,120-3,320. Sugar millgate (including duty): Mawana Rs 3,200, Kinnoni Rs 3,330, Asmoli Rs 3,310, Dorala Rs 3,195, Budhana Rs 3,185, Thanabhavan Rs 3,175, Dhanora Rs 3,315, Simbholi N.T, Khatuli Rs 3,325, Dhampur 3,140, Sakoti 3,150, Modinagar 3,185, Shamli 3,165, Malakpur Rs 3,170, Ramala NA (not available), Anupshaher NA, Baghpat NA, Morna NA, Chandpur NA, Nazibabad NA and Nanota NA.