Lack of buying support leaves sugar weak

New Delhi, July 8 : Sugar market becomes weak due to the prices sliding further on persistent selling from mills amidst increased arrival and closed with moderate losses.

Marketmen said lack of stockists buying support and reduced offtake from bulk consumers against increased supply mainly pulled down millgate sugar prices.

Weak outside advices too negatively impacted the market sentiment to some extent, they said.

In the millgate section, Modi Nagar, Baghpat, Chandpur, and Khatauli were remained under millers selling pressure and yielded further ground at Rs.1350, Rs.1330, Rs.1300 and Rs.1350 per quintal respectively.

Similarly, Bijnor, Rudervilash and Amroha were traded lower at Rs.1310, Rs.1300 and Rs.1310 per quintal respectively.

Following were Saturday quotations in Rs. per quintal.

Sugar ready M-30 1475-1525 and S-30 1465-1515.

Mill delivery M-30 1300-1385 and S-30 1290-1375.

Sugar mill gate prices (excluding duty): Modi Nagar 1350, Bagpat 1330, Daurala 1370, Chandpur 1300, Titabi 1375, Mawana 1380, Simbhawali 1365, Khatauli 1350, Badaiu 1315, Sattha 1310, Ruderavilash 1300, Bijnor 1310 and Amroha 1310 and samali Rs 1350.