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Sugar prices on the Vashi market ruled steady for S-grade and declined by ₹13-20 a quintal for M-grade. Stockists sold poor quality old stocks of M-grade even at ₹90 lower. With arrivals of new crop, both producers and stockists are under pressure to ease old stocks. Naka and mill tender rates were unchanged and the volume remained routine. Arrivals were at 62-63 truck loads while local dispatches were about 60-61 truck loads. On Wednesday, about 19-20 mills offered tenders and sold 48,000-50,000 bags at ₹2,670-2,770 (₹2,670-2,770) for S-grade and ₹2,770-2,900 (₹2,770-2,900) for M-grade.
The Bombay Sugar Merchants Association’s spot rates: S-grade ₹2,836-2,990 (₹2,836-3,001) and M-grade ₹2,862-3,132 (₹2,952-3,145). Naka delivery rates: S-grade ₹2,760-2,830 (₹2,760-2,830) and M-grade ₹2,910-3,000 (₹2,910-3,000).
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