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Sugar market ruled weak on Wednesday on the back of limited activities. Increased pressure for lifting the commodity from mills kept stockists away from fresh bets. On the Vashi wholesale market, prices declined by ₹5-7 a quintal, while naka rates dropped over ₹15-20 due to desperate reselling of old stocks. Mill tender rates were down ₹5-7 .
Arrivals at the Vashi market continued to be at 60-61 truck loads and local dispatches were 58-59 loads. On Tuesday, about 22-23 mills offered tenders and sold about 35,000-38,000 bags at ₹2,445-2,590 (2,450-2,600) for S-grade and ₹2,570-2,750 (2,580-2,750) for M-grade.
The Bombay Sugar Merchants Association’s spot rates: S-grade ₹2,630-2,750 (2,630-2,750) and M-grade ₹2,720-2,922 (2,722-2,935). Naka delivery rates: S-grade ₹2,565-2,665 (2,580-2,680) and M-grade ₹2,665-2,815 (2,680-2,840).
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