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Sugar prices on the Vashi wholesale market continued their bearish trend with a drop of ₹12-17 a quintal on Tuesday as demand was subdued. Stockists were inactive due to financial year closing. Barring routine activities, there were no major commitments. However at the upper level, volume increased on the hope of higher demand at the beginning of the new month. Arrivals at the Vashi market were higher at 61-62 truckloads and local dispatches were 56-58 loads. On Monday evening, 21-22 mills offered tenders and sold nearly 65,000-68,000 bags at ₹2,280-2,420 (₹2,280-2,420) for S-grade and ₹2,420-2,560 (₹2,420-2,560) for M-grade.
Bombay Sugar Merchants Association spot rates were (₹/quintal): S-grade ₹2,420-2,551 (₹2,432-2,566) and M-grade was ₹2,530-2,665 (₹2,530-2,682). Naka delivery rates were: S-grade ₹2,400-2,475 (₹2,400-2,475) and M-grade ₹2,430-2,590 (₹2,430-2,590).
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