The Hindu Business Line : Sugar lower on increased supply, reduced offtake

Marketmen said new stocks arrival from sugar mills in Uttar Pradesh mainly flooded the market and pulled down the prices. They said the market, which had plenty of sugar stocks available in the market, further dampened trading sentiment on new stocks arr ival.

Sugar ready medium and second grade prices lost from Rs.1600-1650 and Rs.1590-1625 to settle at Rs.1575-1625 and Rs.1560-1600 a quintal respectively.

Mill delivery medium and second grade prices also came down from Rs.1360-1540 and Rs.1340-1530 to finish at Rs.1340-1525 and Rs.1330-1515 a quintal respectively.

Among mill gate section, sugar Modi Nagar dropped by Rs.10 to Rs.1500 a quintal while Baghpat eased by Rs.15 at Rs.1465 a quintal on reduced offtake.

Titabi and Mawana quoted lower at Rs.1490 each a quintal respectively on selling pressure. Simbhawali lost Rs.10 at Rs.1510 a quintal and khatauli slipped by Rs.15 at Rs.1500 a quintal respectively. Following were today's quotations per quintal: Sugar re ady M-30 1575-1625 and S-30 1560-1600. Mill delivery M-30 1340-1525 and S-30 1330-1515.

Sugar mill gate prices (excluding duty): Modi Nagar 1500, Bagpat 1465, Daurala 1500, Chandpur 1350, Titabi 1490, Mawana 1490, Simbhawali 1510 Khatauli 1500, Badaiun 1340, Sattha 1335, Ruderavilash 1355, Bijnor 1420, Amroha 1430 and Samali Rs 1430. - PTI

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