Medium sugar drops on reduced demand

Medium sugar prices dropped further at the Vashi wholesale market here today due to lower offtake from stockists as well as weak upcountry demand.

While, small sugar ruled steady in the absence of any worhwhile buying support.

Medium sugar (M-30) declined by Rs 20 per quintal to Rs 2,971/3,172 from Tuesday's closing level of Rs 2,971/3,192.

Following are today's closing rates for sugar (per quintal) with the previous rates given in brackets:

Medium sugar (M-30) quality: Rs 2,971/3,172 (Rs 2,971/3,192).

Small sugar (S-30) quality: Rs 2,846/3,002 (Rs 2,846/3,002).