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Sugar prices on the Vashi wholesale spot market declined by Rs5 for S-grade and Rs19 for M-grade on month-end slack demand. Naka prices were unchanged. Mill tender rates were range-bound under selling pressure and volume remained thin.
As producers continued to sell, sentiments ruled weak. The domestic futures market continued to be bearish, with prices dropping by Rs19. This has taken the total loss to Rs55 in the last six session, said sources.
“Arrivals at the Vashi market declined to 57-58 truckloads (each 100 bags), while local dispatches were 54-55 loads. The Bombay Sugar Merchants Association’s spot rates were: S-grade Rs2,725- 2,865 (Rs2,732-2,865) and M-grade Rs2,862- 2,992 (Rs2,822 -3,011).
Naka delivery rates were: S-grade Rs2,670-2,750 (Rs2,670-2,750) and M-grade Rs2,800-2,920 (Rs2,820-2,920).
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