Sugar prices on the Vashi wholesale market ruled unchanged except for the old stock of small variety, which was sold ₹5-10 lower on Wednesday. New stocks sold ₹2-5 a quintal higher. Naka and mill tender rates were steady on hopes of higher demand in the coming days at the start of the new month. As of now demand-supply remains routine. The sentiment was positive, said sources.

An observer said: “ In the spot market, stockists offloaded old stocks at a price ₹5-10 lower while they offered new stocks at ₹2-5 higher. The volume was low due to month-end but traders are optimistic about rebound in local retailer’s demand. Prices dropped in the futures market on report of pressure on producers to pay up cane arrears.”

Arrivals at Vashi market was around 59-60 truckloads (of 100 bags each) while local dispatches were also at the same level. On Tuesday evening, 18-19 mills offered tenders and sold 63,000-65,000 bags at a steady level of ₹2,570-2,670 for S-grade and ₹2,750-2,820 for M-grade.

Bombay Sugar Merchants Association's spot rates were: S-grade ₹2,722-2,820 (₹2,732-2,825) and M-grade was ₹2,862-2,962 (₹2,862-2,962). Naka delivery rates were: S-grade ₹2,700-2,800 (₹2,700-2,800) and M-grade ₹2,830-2,930 (₹2,830-2,930).

comment COMMENT NOW