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Sugar market ruled steady despite increase in local offtake on the back of rising mercury. Millers are continuously offloading the commodity in local markets in absence of upcountry/export demand which kept prices under check. On the Bombay Sugar Merchant Association, S-grade dropped by ₹10-12 a quintal while M-grade weakened by ₹4-5. Naka rates jumped by ₹30-40 for S-grade and lost ₹20 for M-grade. Mill tender prices were unchanged.
Arrivals were at 61-62 truck loads and local dispatches were about 59-60 loads. About 22-23 mills offered tenders and sold 54,000-55,000 bags at ₹2,280-2,420 (2,280-2,420) for S-grade and ₹2,420-2,570 (2,420-2,570) for M-grade.
The BSMA spot rates: S-grade ₹2,450-2,595 (2,462-2,595) and M-grade ₹2,532-2,742 (2,536-2,706). Naka delivery rates: S-grade ₹2,400-80 (2,360-2,450) and M-grade ₹2,430-2,600 (2,450-2,600).
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