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Spot sugar prices of the S-grade increased by ₹18 at the lower end while it ruled steady at the higher end on Friday. M-grade prices remained unchanged. Naka rates were higher by ₹10-60 for S-variety and by ₹10 for M-variety. Mill tender rates were almost steady barring some fine and bold variety which were traded at a premium of ₹10-20 a quintal. The volume was routine as producers continued selling at prevailing rates. Morale was steady, said sources.
A wholesaler said that due to rain retail purchases were limited. At Vashi arrivals proved higher than demand. Mills kept tender offers open due to eased response. Enough stocks in the market kept stockists away from building up surplus inventory. Freight rates were steady, he said.
Arrivals at Vashi market were higher at 62-63 truck loads and local dispatches were lower at 58-60 truck loads. On Thursday, about 17- 18 mills offered tenders and sold 54,000-56,000 bags at ₹2,930-3,030 (₹2,930-3,020) for S-grade and ₹3,050-3,170 (₹3,050-3,150) for M-grade.
Bombay Sugar Merchants Association’s spot rates: S-grade ₹3,120-3,202 (₹3,102-3,202) and M-grade ₹3,182-3,382 (₹3,182-3,382). Naka delivery rates: S-grade ₹3,040-3,150 (₹3,030-3,090) and M-grade ₹3,150-3,270 (₹3,140-3,270).
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