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Sugar prices continued their bearish trend on slack demand amid higher selling pressure at upper mill level. On the Vashi market, prices dropped by ₹10-20 a quintal tracking weak mill tenders. Producers sold the commodity at ₹15-20 lower on higher crushing activities and production. Naka rates were unchanged. Arrivals to the Vashi market were at 59-60 truck loads and local dispatches were at 55-56 loads. On Thursday evening, about 14-15 mills offered tenders and sold about 29,000-30,000 bags at ₹2,500-2,600 (2,520-2,620) for S-grade and ₹2,600-2,680 (2,620-2,700) for M-grade.
The Bombay Sugar Merchants Association’s spot rates: S-grade ₹2,612-2,745 (2,622-2,771) and M-grade ₹2,740-2,882 (2,746-2,902). Naka delivery rates: S-grade ₹2,580-2,680 (2,580-2,680) and M-grade ₹2,680-2,780 (2,680-2,780).
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