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Sugar prices on the Vashi wholesale market ruled steady but the inferior grade sold at price ₹8-10 a quintal lower on Tuesday. Naka and mill tender rates were unchanged as mills continued to keep offer for sale/tenders open on slack demand. Market traders said as supply is ample activities remained routine and need-based. With the festival demand getting over the market is likely to see range-bound volatility. Prices at mill level are ruling below the production cost.
Arrivals were at 62-63 truckloads and local dispatches at 61-62 loads. On Monday evening, 18-20 mills offered tenders and sold 45,000-48,000 bags at ₹2,790-2,900 (₹2,790-2,900) for S-grade and ₹2,900-3,000 (₹2,900-3,000) for M-grade.
The Bombay Sugar Merchants Association’s spot rates: S-grade ₹2,960-3,052 (₹2,972-3,052) and M-grade ₹3,070-3,242 (₹3,070-3,250). Naka delivery rates: S-grade ₹2,900-2,980 (₹2,900-2,980) and M-grade ₹3,000-3,120 (₹3,000-3,120).
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