Navi Mumbai, Aug 3 (UNI) Wholesale sugar prices drifted lower for the third consecutive day today and crashed by Rs ten per quintal to quote at a low of Rs 1305 on sustained heavy offers by stockists in the face of larger stock arrivals from mills, traders at the wholesale sugar market said.
Retail prices are likely to be quoted below of Rs 20 per kg within a few days against the present level of Rs 22-25 per kg due to huge stocks at the terminal marekts, a leading retailer said.
Sugar in small and medium grades declined by Rs 10 each on lack of fresh bulk consumers demand in view of increased stocks inflows from mills.
Sugar ex-mill in small and medium grades too fell by Rs 15 per quintal each in line with open markets. Both the prices crashed by over Rs 75 per quintal in the last few days, traders pointed out.
Following are the spot wholesale rates per quintal: Small grade: Rs 1,305/1,366, Medium grade: Rs 1,365/1,485, Ex-mill small grade: Rs 1,265/1,300, Medium grade: Rs 1,315/1,400.
UNI
Retail prices are likely to be quoted below of Rs 20 per kg within a few days against the present level of Rs 22-25 per kg due to huge stocks at the terminal marekts, a leading retailer said.
Sugar in small and medium grades declined by Rs 10 each on lack of fresh bulk consumers demand in view of increased stocks inflows from mills.
Sugar ex-mill in small and medium grades too fell by Rs 15 per quintal each in line with open markets. Both the prices crashed by over Rs 75 per quintal in the last few days, traders pointed out.
Following are the spot wholesale rates per quintal: Small grade: Rs 1,305/1,366, Medium grade: Rs 1,365/1,485, Ex-mill small grade: Rs 1,265/1,300, Medium grade: Rs 1,315/1,400.
UNI
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