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Sugar prices were mixed on Monday with spot prices ruling steady and futures declining. On the Vashi wholesale spot market, prices ruled steady but on futures it declined over ₹20 till noon as physical demand remained need-based and supply were ample. Naka and mill level prices ruled unchanged. Producers kept tender offer open due to less than expected demand.
A Vashi-based wholesaler said that prices ruled steady at upper naka and mill level despite hand-to-mouth physical demand. Producers kept their tender offers open due to lower demand. The volume was routine as supply from mills continued. Arrivals in the Vashi market were higher at 64-65 truckloads and local dispatches were lower at 60-61 loads.
On Saturday, 11-12 mills offered tenders and sold merely 25,000-28,000 bags at ₹2,940-3,020 (₹2,940-3,020) for S-grade and ₹3,080-3,180 (₹3,080-3,180) for M-grade. Bombay Sugar Merchants Association’s spot rates: S-grade ₹3,102-3,186 (₹3,102-3,202) and M-grade was ₹3,200-3,382 (₹3,200-3,382). Naka delivery rates: S-grade ₹3,040-3,110 (₹3,030-3,110) and M-grade ₹3,140-3,280 (₹3,130-3,280).
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