Sugar prices softened by Rs 40 per quintal at the wholesale market in the national capital today following bloated ready sugar stocks amidst limited offtake by stockist and bulk consumers.
According to marketmen, the downfall in sweetener prices mainly came due to abound availability of sugar in the market on relentless supplies from mills.
Meanwhile, selective buying by stockist and bulk consumers such as soft-drink and ice-cream makers in view of the ongoing wedding season, somewhat managed to curb the sharp fall in sweetener prices.
Sugar ready M-30 and S-30 prices declined by Rs 40 each to settle the day at Rs 3,830-3,990 and Rs 3,820-3,980 per quintal.
Mill delivery M-30 and S-30 prices also declined by same margins of Rs 40 each to Rs 3,530-3,760 and Rs 3,520-3,750 per quintal.
In mill gate section, sugar Kinnoni dropped the most by Rs 40 to Rs 3,760, followed by Mawana, Asmoli, Simbholi and Shamli dropped by Rs 25 each to Rs 3,660, Rs 3,700, Rs 3,705 and Rs 3,665
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