Navi Mumbai, Sep 5 (UNI) Wholesale sugar prices were quoted below Rs 1,900 per quintal and touched a six-month low at Rs 1,880 per quintal, with a massive loss of Rs 30, from its previous close owing to sustained heavy stocks arrival from co-operative mills, traders at the Bombay Sugar Merchants Association (BSMA) said.
Retail prices are likely to come down from Rs 25 to Rs 20 per kg due to bumper stocks at the terminal centres, a leading retailer said.
Trading resumed after last two days holiday, prices of small and medium grades crahed by Rs 25 and Rs 30 per quintal respectively on sluggish demand from sweet-makers in the face of higher stocks supply by mills, traders said.
In ex-mill grade, small grade also quoted below of Rs 1,800, touching a low of Rs 1,765 with a big loss of Rs 50 for small grade.
Similarly, medium grade plummeted by 60 to Rs 1,810 per quintal amid sustained heavy offloading by local dealers, traders added.
Following were the spot wholesale rates of sugar per quintal: Small grade: Rs 1,824/1,880, medium grade: Rs 1,864/1,950, Ex-mill small grade: Rs 1,765/1,785 and medium grade: Rs 1,810/1,850.
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