Sugar prices drop on thin bulk consumers demand

Navi Mumbai, Aug 2 (UNI) Sugar prices suffered a setback for the consecutive second day today and eased by Rs 15 per quintal, being quoted at a low of Rs 1495 on sustained heavy offers by stockists in the face of larger stock arrivals from mills, traders at the wholesale sugar market said.

Sugar in small and medium grades declined by Rs 15 each on poor demand in view of increased stocks inflows from mills.

Sugar ex-mill in small and medium grades too fell by Rs ten per quintal each in line with open markets.Both the prices crashed by over Rs 50 per quintal in the last few days,traders pointed out.

Following are the spot wholesale rates per quintal: Small grade: Rs 1,311/1,376, Medium grade: Rs 1,375/1,495, Ex-mill small grade: Rs 1,280/1,310, Medium grade: Rs 1,330/1,400.

UNI