Sugar Lost Up To Rs. 40/Q In North As UP Millers Reduce Sale Prices

NEW DELHI (Commodities control) Sugar mills reduced their mill gate prices by Rs. 20-30 per quintal in Uttar Pradesh so market prices slipped in Delhi and Uttar Pradesh. The millers have reduced prices today and yesterday as they were trying to attract buyers amid poor demand. However, the sweetener was traded at previous prices in other regions of the country.

Sugar market remained silent today amid weak demand and more than enough supplies in the country. According to traders, usually sugar demand picks up after mid of January as retailers and industrial buyers come up for purchasing but this is year demand yet to gain momentum. There was some type of uncertainty regarding summer demand. Secondly, higher production and supplies also dampen any chance of price gain so buyers were not keen to stock the sweetener. They purchase sugar as per their immediate need.

Millers across the country are forced to reduce prices to attract buyers. Therefore lowering the prices became necessary for them to maintain their liquidity. Millers reduce prices with certain frequency in a time span. UP millers have reduced prices today. Eastern and southern millers had reduced prices to push up their sale. M grade sugar slipped Rs. 30 to Rs. 3370-3470 per quintal S grade sugar lost same amount to settle at Rs. 3350-3450 per quintal in Delhi. The sweetener has lost Rs. 40 per quintal in Kanapur mandis. The prices remained stable in other markets.