Sugar prices slumped further at the Vashi wholesale market here today due to sustained selling by stockists and bulk traders.
Besides reduced upcountry demand, stockists preferred to stay away from making any fresh bulk commitments after recent sharp advances in sugar prices following the government's decision to allow exports through barter trade against import of farm items.
Small sugar (S-30) slumped by Rs 56/10 per quintal to settle at Rs 2,386/2,5222 from overnight closing level of Rs 2,442/2,532.
Medium sugar (M-30) also fell by Rs 30/10 per quintal to finish at Rs 2,470/2,612 from Rs 2,500/2,622 yesterday.
Following are today's closing rates for sugar (per quintal) with the previous rates given in brackets:
Small sugar (S-30) quality: Rs 2,386/2,522 (Rs 2,442/2,532).
Medium sugar (M-30) quality: Rs 2,470/2612 (Rs 2,500/2,622).
