Sugar drops further on poor demand

Sugar prices dropped further at the Vashi wholesale market here today due to ample stocks position amid reduced offtake from stockists.

Medium sugar quality (M-30) slipped by Rs 10/30 per quintal to Rs 2,640/2,720 from overnight closing level of Rs 2,650/2,750.

Small sugar quality (S-30) also moved down by Rs 10 per quintal to Rs 2,590/2,650 as against Rs 2,600/2,660 yesterday.

Following are today's closing rates per quintal, with previous rates in brackets:

Small sugar (S-30) quality Rs 2,590/2,650 (Rs 2,600/ 2,660) and Medium sugar (M-30) quality Rs 2,640/2,720 (Rs 2,650/2,750).