Sugar prices slide on weak demand, ample supply

Sugar prices dropped sharply at the Vashi wholesale sugar market here today due to lack of demand from traders and bulk consumers as well as heavy offloading by millers.
Meanwhile, trading in sugar resumed today after a three-day strike, in protest against the imposition of new Local Body Tax (LBT) in the state.
Medium sugar (M-30) shed by Rs 20 to Rs 3,172/3,381 per quintal from last Saturday's closing level of Rs 3,192/3,401.
Small sugar (S-30) also fell by a similar margin to Rs 3,096/3,191 per quintal, as compared to Rs 3,116/3,191 previously.
Following are today's closing rates for sugar (per quintal) with the previous rates given in brackets:

Medium sugar (M-30) quality: Rs 3,172/3,381 (Rs 3,192/3,401).
Small sugar (S-30) quality: Rs 3,096/3,191 (Rs 3,116/3,191.