Sugar drops on weak demand, higher supply

Sugar prices dropped at the Vashi wholesale market here today due to reduced offtake from stockists and upcountry traders amid ample supply positions.

Small sugar (S-30) slumped by 20/6 per quintal to Rs 3,003/3,136 from overnight closing level of Rs 3,023/3,142.

Medium sugar (M-30) also eased by Rs 10 per quintal to Rs 3,142/3,292 as compared to Rs 3,152/3,292 yesterday.

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

Small sugar (S-30) quality: Rs 3,003/3,136 (Rs 3,023/3,142.

Medium sugar (M-30) quality: Rs 3,142/3,292 (Rs 3,152/3,292).