New Delhi, Mar 14 (PTI) Sugar prices drifted down by Rs 100 per quintal at the wholesale market in the national capital today following abound availability of sugar triggered by thin demand from stockist and bulk consumers.
Marketmen said bloated ready stocks on endless arrivals from mills due to bumper sugar-cane crop production pulled down sugar prices.
Besides, feeble demand from stockist and bulk consumers such as soft-drink and ice-cream also dragged down the sentiments, they quoted.
According to industry body ISMA, sugar production estimated to rise by 45 per cent to record 29.5 million tonnes in the current marketing year ending September on the back of higher cane output in Maharashtra, Karnataka and Uttar Pradesh, which put pressure on sugar prices.
Sugar ready M-30 and S-30 segment suffered the most by dropping Rs 100 each at Rs 3,150-3,350 and Rs 3,140-3,340 per quintal.
Likewise, mill delivery M-30 and S-30 prices dipped by Rs 65 each to settle the day at Rs 3,030-3,170 and Rs 3,320-3,160 per quintal.
In mill gate section, sugar Budhana and Thanabhavan lost Rs 75 each to Rs 3,075 and Rs 3,065, while Mawana, Dorala, Khatuli and Shamli slipped by Rs 70 each to Rs 3,060, Rs 3,055, Rs 3,130 and Rs 3,050 per quintal.
Following are today’s quotations (in Rs per quintal) Sugar retail markets – Rs 32.00-35.00 per kg.
Sugar ready: M-30 Rs 3,150-3,350, S-30 Rs 3,140-3,340.
Mill delivery: M-30 Rs 3,030-3,170, S-30 Rs 3,020-3,160.
Sugar millgate (including duty): Mawana Rs 3,060, Kinnoni Rs 3,170, Asmoli Rs 3,130, Dorala Rs 3,055, Budhana Rs 3,075, Thanabhavan Rs 3,065, Dhanora Rs 3,130, Simbholi Rs 3,140, Khatuli Rs 3,150, Dhampur Rs 3,040, Sakoti 3,040, Modinagar 3,055, Shamli 3,050, Malakpur 3,035, Ramala not available, Anupshaher N.A, Baghpat N.A.,Morna N.A., Chandpur N.A., Nazibabad N.A and Nanota N.A.
This is published unedited from the PTI feed.