Sugar Drops In Southern, Western Markets But Steadies In North, Demand Still Absent

NEW DELHI (Commodities control) Sugar prices slipped Rs. 10 per quintal in mostly markets of eastern, western and southern regions. The market were lacking demand from every segment of consumers. The prices steadied in Delhi and Uttar Pradesh but bearish tone prevailed. According to market sources, the prices may fall further slightly in next 2-3 days of coming week. Later, lower prices may attract buyers in mid of next week.

Sugar prices fell down by Rs. 10 per quintal in Mumbai Naka market. But it remained stable in Mumbai Vashi market. Kolhapur, Hyderabad, Bangaluru, Chennai and Kolkata markets also registered down ward trend. But UP millers did not reduce prices today so mill rate and market prices remained at previous level. Sugar had registered downfall in last two days in Delhi and UP. According to traders, retail as well as industrial consumers were absent from the market. They do not expect any price rise to they were buying for immediate need only. Millers were feeling pressure to sell their quota and fullfill their financial needs.

(By Commoditiescontrol Bureau: +91-22-40015505)