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Sugar prices on the Vashi wholesale spot market ruled steady with minor changes on Friday, while prices rose in the futures market. This follows reports of Maharashtra government’s decision to extend the deadline for payment of fair remunerative price (FRP) to growers. Stockists at the vashi market sold old stocks ₹5-8 a quintal lower, while new stocks were sold at steady prices. Arrivals and local offtake remained routine at Vashi. Most mills kept their tender offer open as prices in other centres ruled at a par with Maharashtra.
Arrivals declined to 60-61 truckloads, while local dispatches remained at 59-60 loads. On Thursday evening, 22-23 mills offered tenders and sold 42,000-44,000 bags at ₹2,540-2,660 (₹2,560-2,660) for S-grade and ₹2,650-2,780 (₹2,660-2,780) for M-grade.
The Bombay Sugar Merchants Association’s spot rates: S-grade ₹2,685-2,786 (₹2,685-2,791) and M-grade ₹2,802-2,952 (₹2,810-2,952).
Naka delivery rates: S-grade ₹2,630-2,700 (₹2,630-2,700) and M-grade ₹2,740-2,870 (₹2,740-2,870).
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