Sugar prices on the Vashi market declined by ₹10-15 a quintal on Thursday as stockists sold the commodity at lower rates on increased lifting pressure. Naka and mill prices were steady as volume remained routine.
A wholesaler said enough inventory stocks (of 110-115 truck loads) in the market, eased bulk demand and routine selling by producers kept the market under pressure. Lack of upcountry demand in Maharashtra kept the volume limited hence supply is ample.
Arrivals to the Vashi market were at 62-63 truck loads and local dispatches were at 61-62 loads. The Bombay Sugar Merchants Association’s spot rates: S-grade ₹2,666-2,782 (2,682-2,792) and M-grade ₹2,772-2,912 (2,786-2,912). Naka delivery rates: S-grade ₹2,620-2,730 (2,620-2,730) and M-grade ₹2,730-2,830 (2,730-2,830).
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