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Sugar prices for the fair variety dropped further by ₹40 a quintal. But prices of the fine quality was unchanged at the Vashi wholesale market on Friday as producers sold fair quality old stocks at a lower price. Naka rates declined by ₹60-100 for S-grade. Mill tender rates for good quality ruled steady. The volume was routine in the spot market and at higher level. Vashi market currently carries over 120 truckloads of inventory, keeping stockists away from fresh bets. Secondly, retail demand will also remain lower.
Arrivals at Vashi market were around 62-63 truckloads (of 100 bags each) and the local dispatches were 58- 60 loads. On Thursday evening only 8-10 mills offered tenders and sold merely 8,000 – 10,000 bags at Rs 2,960 - 3,050 (Rs 3,000 -Rs 3,050) for S-grade and Rs 3,100 - Rs 3,200 (Rs 3,100 - Rs 3,200) for M-grade.
Bombay Sugar Merchants Association’s spot rates were: S-grade ₹3,102-3,355 (₹3,142-3,365) and M-grade was ₹3,262-3,472 (₹3,301-3,472). Naka delivery rates were: S-grade ₹3,020-3,120 (₹3,120-3,180) and M-grade ₹3,200-3,300 (₹3,200-3,320).
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