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Sugar prices on the Vashi market lost ₹4-5 a quintal for S-grade and increased by ₹5-6 for M-grade on the back of higher demand for fine variety. Naka and mill tender rates remained unchanged as producers are continuously selling. Morale was steady but traders were hopeful for higher demand.
Sources said that as supply from mills remained continuous and demand remained less-than-expected overall volumes and price volatility remained thin. Lack of upcountry demand in Maharashtra is also dragging the prices. Arrivals increased to 63-64 truck loads and local dispatches improve to 61-62 truck loads. On Wednesday, about 19-20 mills offered tenders and sold 55,000-60,000 bags at ₹2,920-3,000 (₹2,920-3,000) for S-grade and ₹3,050-3,150 (₹3,050-3,150) for M-grade.
Bombay Sugar Merchants Association’s spot rates: S-grade ₹3,076-3,190 (₹3,076-3,195) and M-grade ₹3,210-3,352 (₹3,210-3,346). Naka delivery rates: S-grade ₹3,020-3,090 (₹3,020-3,090) and M-grade ₹3,140-3,270 (₹3,140-3,270).
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