Sugar closes lower on rising inventories

Sugar prices dropped by Rs 50 per quintal in the national capital today on increased stocks position against current demand.

Marketmen said apart from mounting of ready stocks, regular supplies from mills mainly brought down the sweetener prices.

However, ongoing marriage season demand somehow managed to capped losses, they added.

Sugar ready M-30 and S-30 prices dipped from Rs.3530-3750 and Rs.3500-3725 to close at Rs.3520-3700 and Rs.3490-3675 per quintal, respectively.

Similarly, mill delivery M-30 and S-30 prices declined to settle at Rs.3280-3650 and Rs.3260-3625 instead of Rs.3300-3680 and Rs.3275-3650 per quintal.

Among millgate including duty section, sugar simbholi lost Rs.30 at Rs.3540 per quintal, while modinagar fell by Rs.25 at Rs.3465 per quintal.

The following were today quotations per quintal: Sugar ready: M-30 3,520-3,700, S-30 3,490-3,675. Mill delivery: M-30 3,280-3,650; S-30 3,260-3,625.

Sugar mill gate (including duty): Mawana 3460, Kinnoni 3680, Asmoli 3540, Dorala 3460, Budhana N.T, Thanabhavan N.T, Ramala 3290, Bulandshar N.T, Morna 3290, Sakoti 3300, Chandpur NT, Dhanora 3440, Khatuli 3440, Baghpat 3300, Amroha

NT,Simbholi 3540, Modi Nagar 3465, Anupshar 3280 and Nazibabad 3280.

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