New Delhi: Sugar prices dropped by Rs 100 per quintal in the national capital on Monday following ample supply from mills amid reduced offtake amid reports of the government likely to import fresh stocks.
Marketmen said rumours that government might import sugar to check rising prices led to a fall in domestic markets here.
They said increased arrivals from mills further fuelled the downtrend.
Sugar spot medium and second grade prices lost from Rs 450-4,450 and Rs 4,340-4,440 to close at Rs 4,250-4,400 and Rs 4,240-,4390 per quintal respectively.
Mill delivery medium and second grade price also dipped from Rs 4250-4350 and Rs 4240-4340 to settle at Rs 4150-4300 and Rs 4140-4290 per quintal.
Among millgate section, sugar kinnoni quoted lower at Rs 4175, asmoli traded down at Rs 4085 and thanabhavan dipped to settle at Rs 4050 per quintal.
Mawana, Dorala, Titabi all slipped to close at Rs 4120, Rs 4130 and Rs 4080 per quintal.
Following are Monday 's rates in Rs per quintal:
Sugar ready M-30 4,250-4,400 and S-30 4,240-4,390
Mill delivery M-30 4,150-4,300 and S-30 4,140-4,290.
Sugar mill gate prices (excluding duty): Kinonni 4,175, asmoli 4,085, mawana 4,120, titabi 4,080,Thanabhavan 4,050, Budhana 4,060, Dorala 4,130.
PTI
First Published: Monday, January 11, 2010, 18:33