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Sugar prices on the Vashi wholesale market were mixed with ₹18 a quintal drop in S-grade and ₹42 increase in M-grade. Both varieties ruled steady. Naka rates were unchanged while mill tender rates were down ₹10 a quintal as producers continued selling old stocks. Firm freight rates kept spot prices unchanged.
A Vashi-based wholesaler said that demand for Diwali is almost over and activities are normal. Producers are continuously selling old stocks at prevailing prices to ease their inventory. Further, Vashi market itself carries ample stocks of over 10,000-12,000 bags keeping stockists away from fresh bulk bets.
Arrivals were at 61-62 truckloads and local dispatches were 60-61 loads. On Saturday, about 19-20 mills offered tenders and sold 48,000-50,000 bags at ₹2,780-2,890 (₹2,790-2,900) for S-grade and ₹2,890-3,000 (₹2,900-3,000) for M-grade.
The Bombay Sugar Merchants Association's spot rates: S-grade ₹2,952-3,042 (₹2,970-3,042) and M-grade ₹3,092-3,221 (₹3,050-3,221). Naka delivery rates: S-grade ₹2,900-2,960 (₹2,900-2,960) and M-grade ₹3,000-3,100 (₹3,000-3,100).
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