Sugar prices slip on increase in offering by stockists

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Navi Mumbai, Feb 6 (UNI) Wholesale sugar prices drifted lower for the third consecutive day today and fell by Rs ten per quintal on sustained selling pressure by stock-holders in the face of larger stock arrivals, traders at the Bombay Sugar Merchants' Association said.

Sugar prices in small and medium grades (per quintal) came down by Rs 10 and Rs five respectively on thin buying support by bulk consumers due to larger free sale quota for current month's consumption.

Similarly, ex-mill small and medium grades declined by Rs 15 and Rs 20 per quintal respectively on sustained heavy selling pressure, traders added.

Following are the spot wholesale rates per quintal: Small grade: Rs 1,402/1,450, Medium grade: Rs 1,440/1,530.

Ex-mill Small grade: Rs 1,375/1,410 and Medium grade: Rs 1,415/1,470.

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