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Sugar prices on the Vashi wholesale market increased by ₹10-20 a quintal for the M-grade, while it ruled stable for S-grade on Tuesday. Stockists sold M-grade fine variety at higher rates on improved demand. Naka and mill tender rates were almost unchanged as volume remained routine under selling pressure. A wholesaler told Business Line, “Ample supply and enough carryover stocks at Vashi market kept stockists away from building up fresh inventory. Local demand remained lower. In absence of neighbouring States’ buying and export demand, producers are forced to sell their produce in local markets. The Vashi market currently carries over 115 truckloads of stocks. Sugar prices in other main producing centres are ruling at par with Maharashtra diverting upcountry demand to nearby States.”
Arrivals at Vashi market were around 61-62 truckloads (of 100 bags each) and the local dispatches were 57-58 loads. On Monday evening, about 20-22 mills offered tenders and sold 58,000-60,000 bags at ₹2,950-3,100 (₹2,960-3,100) for S-grade and ₹3,080-3,240 (₹3,090-3,250) for M-grade.
Bombay Sugar Merchants Association’s spot rates: S-grade ₹3,132-3,282 (₹3,132-3,282) and M-grade ₹3,282-3,472 (₹3,182-3,452). Naka delivery rates: S-grade ₹3,100-3,170 (₹3,100-3,170) and M-grade ₹3,200-3,350 (₹3,200-3,350).
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