Sugar drops on stockists offloading

Sugar prices dropped further at the Vashi wholesale market here today on heavy offloading by stockists and traders amidst poor retail demand.

Meanwhile, the government has released a total 17.08 lakh tonnes of sugar for sale in the open market for December, against the 16.15 lakh tonnes of previous month November. 

Medium sugar quality (M-30) declined by Rs 20/41 per quintal to Rs 2,960/3,051 from Tuesday's closing level of Rs 3,001/3,071.   

Small sugar quality (S-30) also fell by Rs 30/40 per quintal to Rs 2,921/2,981, as compared with Rs 2,961/3,011 yesterday.

The following are today's closing rates per quintal, with the previous rates in brackets: 

Small sugar (S-30) quality Rs 2,921/2,981 (Rs 2,961/ 3,011) and medium sugar (M-30) quality Rs 2,960/3,051 (Rs 3,001/3,071)