Sugar prices drop on sluggish demand, adequate supply

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

Medium sugar (M-30) slumped by Rs 30 per quintal to finish at Rs 3,282/3,442 from overnight closing level of Rs 3,282/3,472.

Small sugar (S-30) also fell by Rs 6/11 per quintal to Rs 3,126/3,271 per quintal as compared to Rs 3,132/3,282 yesterday.

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

Medium sugar (M-30) quality: Rs 3,282/3,442 (Rs 3,282/ 3,472).

Small sugar (S-30) quality: Rs 3,126/3,271 (Rs 3,132/ 3,282).