Sugar drops on sluggish demand, supply pressure

Sugar prices dropped at the Vashi wholesale market here today due to reduced offtake from stockists as well as poor upcountry demand amid millers selling.
Medium sugar (M-30) slumped by Rs 30 per quintal to Rs 3,162/3,321 from Tuesday's closing level of Rs 3,192/3,321.
Small sugar (S-30) also fell by Rs 8 per quintal to Rs 3,056/3,142 compared to Rs 3,064/3,142.
Following are today's closing rates for sugar (per quintal) with the previous rates given in brackets:
Medium sugar (M-30) quality: Rs 3,162/3,321 (Rs 3,192/3,321).
Small sugar (S-30) quality: Rs 3,056/3,142 (Rs 3,064/3,142).