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Continuous selling by mills kept sugar prices under pressure this month. Limited local demand and lack of upcountry/export demand resulted in a drop of ₹100 at producing level while at Vashi market prices declined by ₹50-60 a quintal. Freight rates were unchanged as volume was routine.
Arrivals were at 59-60 truck loads and local dispatches were also at the same level. On Saturday evening, 15-16 mills offered tenders and sold about 44,000-45,000 bags at ₹2,280-2,400 (2,280-2,400) for S-grade and ₹2,380-2,540 (2,380-2,540) for M-grade.
The Bombay Sugar Merchants Association’s spot rates: S-grade ₹2,446-2,602 (2,452-2,602) and M-grade ₹2,582-2,742 (2,590-2,742). Naka delivery rates: S-grade ₹2,375-2,500 (2,375-2,500) and M-grade ₹2,500-2,640 (2,500-2,640).
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