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Sugar prices ruled unchanged at mill and naka level, while in spot it declined by ₹2-5 a quintal on Tuesday. Ample supply and lower-than-expected demand forced producers to keep their tender offer open. The volume remained routine despite festival days. Enough stocks in the hands of stockists kept them away from building up new inventory as local demand remained need-based. OVashi market carries about 115- 120 truckloads of stocks since start of the month, sources said.
Arrivals were 62-63 truckloads and local dispatches were 60-61 loads. On Monday evening, about 8-10 mills offered tenders and sold 24,000-25,000 bags at steady level of ₹2,920-3,000 (₹2,920-3,000) for S-grade and ₹3,040-3,150 (₹3,040-3,150) for M-grade.
The Bombay Sugar Merchants Association’s spot rates: S-grade ₹3,072-3,191 (₹3,076-3,191) and M-grade ₹3,210-3,352 (₹3,212-3,372). Naka delivery rates: S-grade ₹3,040-3,130 (₹3,040-3,130) and M-grade ₹3,150- 3,280 (₹3,150-3,280).
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