Sugar witnesses divergent trend

Mumbai: Both the variety of sugar prices witnessed a divergent trend at the Vashi wholesale market here today.

Medium sugar prices dropped on stockist selling amidst lower retail offtake, while small sugar prices rose on fresh demand from stockist and bulk consumers. Medium sugar (S-30) slid by Rs 40 per quintal to Rs 3,542/3,701 from Monday's closing level of Rs 3,582/3,701.

However, small sugar (M-30) climbed by Rs 14 per quintal to Rs 3,492/3,566 as against Rs 3,492/3,552 yesterday. The following are today's closing rates for sugar (per quintal) with the previous rates given in brackets:

Small sugar (S-30) quality: Rs 3,492/3,566 (Rs 3,492/3,552).

Medium sugar (M-30) quality: Rs 3,542/3,701 (Rs 3,582/3,701).