Sugar prices drop on weak demand

Both the varieties of sugar prices dropped at the Vashi wholesale market here today due to reduced offtake from bulk consumers as well as aggressive selling by millers.

Medium sugar (M-30) slumped by Rs 30 per quintal to end at Rs 3,062/3,221 from Monday's closing level of Rs 3,092/3,221.

Small sugar (S-30) also shed by Rs 16 per quintal to finish at Rs 2,936/3,042 against Rs 2,952/3,042 yesterday.

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

Medium sugar (M-30) quality: Rs 3,062/3,221 (Rs 3,092/3,221).

Small sugar (S-30) quality: Rs 2,936/3,042 (Rs 2,952/3,042).