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Sugar prices ruled firm on Friday as the uptrend in mill tender rates continued on higher demand. On the Vashi wholesale market, prices ruled almost steady with stockists continuing to build inventories.. Naka rates were unchanged but at mill level prices were up further by ₹20 a quintal. In the futures market, prices dropped after initial gains on profit booking. A Vashi-based wholesaler said “Stockists and retailers continue to build inventories. According to estimates, inventory at the Vashi market is up at 120-130 truckloads (each 100 bags of 100 k) now from 110 -115 loads at the beginning of the month”.
Arrivals at the Vashi market increased to 65-66 truckloads (each 100 bags) and local dispatches were steady at 62-63 loads. On Thursday evening 20-22 mills offered tenders and sold over 1.10 lakh bags, including one rail rake (About 27,000 bags) at higher rates.
Mills sold S- grade at ₹2,780-2,900 (₹2,760-2,880) and M- grade at ₹2,980 - 3,020 (₹2,960-3,010).
The Bombay Sugar Merchants Association's spot rates were (₹/quintal): S-grade 2,882-2,932 (2,882-2,932) and M-grade 2,971-3,122 (2,982-3,102).
Naka delivery rates were: S-grade 2,860-2,930 (2,860-2,930) and M-grade 2,950-3,050 (2,950-3,050).
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