Sugar: Weak conditions emerged at the wholesale sugar

market in the national market during the week under review with prices falling by up to Rs 200 per quintal following mounting stocks on the back of persistent supplies from mills amid limited offtake by stockists and bulk consumers.

Marketmen said ample stocks of ready sugar in the market on relentless supplies from mills amid selective buying by stockists and bulk consumers due to approaching month end, mainly led to the steep fall in sweetener prices.

Moreover, expectations of 25 per cent higher production in 2017-18 as compared to last year too had pressure on prices, they added.

Sugar ready M-30 and S-30 prices tumbled by Rs 200 each to end the week at 4,000-4,100 and Rs 3,990-4,090 per quintal.

Mill delivery M-30 and S-30 prices also dropped by Rs 75 each to Rs 3,660-3,825 and Rs 3,650-3,815 per quintal.

In the mill gate section, sugar Dhanora dived by Rs 140 to Rs 3,710, Shamli plunged by Rs 110 to Rs 3,710 while Asmoli dipped by Rs 105 to Rs 3,755 per quintal.

Sugar Dorala, Budhana, Sakoti, Thanabhavan, Khatuli and Chandpur fell by Rs 100 each to end the week at Rs 3,730, Rs 3,725, Rs 3,690, Rs 3,720, Rs 3,790 and Rs 3,690, while Dhampur declined by Rs 80 to Rs 3,720 and Kinnoni slipped by Rs 75 to Rs 3,825 per quintal.

Prices of Simbholi, Morna, Nazibabad and Nanota dropped by Rs 60 each to Rs 3,820, Rs 3,670, Rs 3,660 and Rs 3,665, while Ramala, Baghpat and Anupshaher fell by Rs 50 each to Rs 3,670, Rs 3,685 and Rs 3,655 per quintal, respectively. (MORE)

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)