Sugar prices fell sharply at the Vashi wholesale market here today on the back of hectic speculative sell-off. Traders offloaded heavily on anticipating that the sweetner's free sale quota for the month of August may be higher', traders said.
Medium sugar (M-30) plunged by Rs 14/40 per quintal to Rs 2,841/2,951 from Wednesday's close level of Rs 2,856/2,991. Small sugar (S-30) also slid by Rs 24/30 per quintal to Rs 2,771/2,822 as compared to Rs 2,801/2,846 yesterday.
The following are today's closing rates for sugar (per quintal), with the previous rates given in brackets:
Medium sugar (M-30) quality: Rs 2,841/2,951 (Rs 2,856/2,991)
Small sugar (S-30) quality: Rs 2,771/2,822 (Rs 2,801/2,846)
