Sugar prices dipped at the Vashi wholesale market here today due to sluggish demand from retailers and bulk traders on the back of higher quota allocation.
Government has realesed 19.25 lakh tonne sugar for sale in the open market for the month of August. Small sugar (S-30) fell sharply by Rs 10/59 per quintal to Rs 2,721,2,762 from Tuesday's closing level of Rs 2,731/2,821.
Medium sugar (M-30) also slpped by Rs 25 per quintal to Rs 2,761/2,931 as compared to Rs 2,886/2,931 yesterday.
The following are today's closing rates for sugar (per quintal), with the previous rates given in brackets:
Small sugar (S-30) quality: Rs 2,721/2,762 (Rs 2,731/2,821)
Medium sugar (M-30) quality: Rs 2,761/2,931 (Rs 2,886/2,931)