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Sugar prices at Vashi rule flat with minor changes on Monday on back of need base demand amid enough supply. However sentiments at upper – mill level remain positive as crushing and production activities are severely affected due to shortage of cane which led some mills to close early. Naka and mill tender rates were unchanged higher level. Volume remained normal and undercurrent of the market was steady said sources. March -17 futures on NCDEX was up by Rs9 till noon.
Sources said ease local demand and enough supply kept activities routine. Prices were stable after sharp rise in the first fortnight of the month. Stocks in market were expected 110 – 115 truck loads hence stockiest stay away from fresh bulk bet. Freight rates were also steady.
On Saturday about 15- 17 mills offered tenders and sold about 48,000 – 50,000 bags at Rs 3760 - Rs3800 (Rs3760 – Rs3800) for S-grade and Rs3820 – Rs3900 (Rs3820 - Rs3900) for M-grade.
On NCDEX futures prices for March-17 contract was Rs3838 (Rs.3829) till noon.
On Bombay Sugar Merchants Association's spot rates were: S-grade Rs 3,840- Rs 3,912 (Rs 3,840 - Rs 3,912) and M-grade was Rs 3,892 – Rs 4,092 (Rs 3,886 – Rs 4,090).
Naka delivery rates were: S-grade Rs 3,810 – 3,880 (Rs 3,810 – Rs 3,880) and M-grade Rs 3,900– 3,970 (Rs 3,900 – 3,970).
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