Sugar prices slip on thin bulk consumers demand

Navi Mumbai, Nov 14 (UNI) Wholesale sugar prices crashed for the third consecutive day today by Rs 15 on sustained selling pressure by stock holders in view of large arrival of stocks from co-operative mills, traders at the Bombay Sugar Merchants' Association said.

Prices of small grade and medium grades declined again by Rs 15 and Rs 10 (per quintal) respectively on poor bulk consumers demand, induced by larger arrival of stocks. Both the prices crashed by over Rs 50 in the last three days on huge ready stocks in the domestic markets Sugar in ex-mill small and medium grades (per quintal) also dropped by Rs 15 each due to lack of fresh demand from local dealers, traders said.

Following are the spot wholesale rates per quintal: Small grade: Rs 1,321/1,386, Medium grade: Rs 1,376/1,490.

Ex-mill mall grade: Rs 1,315/1,340, Medium grade: Rs 1,360/1,395.

UNI