Sugar prices drop further on tough govt measures
Sugar prices dropped further for the second day in a row on tough govt measures.
By PTI |
MUMBAI: Sugar prices dropped further for the second day in a row at the Vashi wholesale market here on Thursday due to higher stockists supply.
"Expectations of further tightening of norms by the government against bulk industrial users resulted easy supply of sugar in the domestic markets," traders commented.
Medium sugar quality (M-30) drifted by Rs 80/120 per quintal to Rs 3,780/3,880 from yesterday's closing level of Rs 3,860/4,000.
Small sugar quality (S-30) also slipped by Rs 80/100 per quintal to Rs 3,720/3,800 against Rs 3,800/3,900 previously. Following are today's closing rates per quintal with previous rates in brackets.
Small sugar (S-30) quality Rs 3720/3800 (Rs 3800/3900) Medium sugar (M-30) quality Rs 3780/3880 (Rs 3860/4000).
"Expectations of further tightening of norms by the government against bulk industrial users resulted easy supply of sugar in the domestic markets," traders commented.
Medium sugar quality (M-30) drifted by Rs 80/120 per quintal to Rs 3,780/3,880 from yesterday's closing level of Rs 3,860/4,000.
Small sugar quality (S-30) also slipped by Rs 80/100 per quintal to Rs 3,720/3,800 against Rs 3,800/3,900 previously. Following are today's closing rates per quintal with previous rates in brackets.
Small sugar (S-30) quality Rs 3720/3800 (Rs 3800/3900) Medium sugar (M-30) quality Rs 3780/3880 (Rs 3860/4000).
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