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Sugar prices ruled firm on the Vashi wholesale market on Monday as producers kept away from selling at a lower price. Bold variety M-grade increased by ₹4-6 a quintal but S-grade ruled steady. Naka rates were unchanged but mill tender rates were expected to fetch ₹10-15 higher.Sources said millers are hesitant to sell at lower prices as the inventory burden has eased. Stockists have started buying new stocks as physical demand is expected to rise in the coming months. As of now, Vashi market carries 105-110 truckloads.
Arrivals increased to 63-64 truck oads while local dispatches were at 60-62 loads. Freight rates were steady. On Saturday, about 22-23 mills offered tenders and sold 54,000-55,000 bags at ₹2,560-2,650 (₹2,560-2,650) for S-grade and ₹2,650-2,780 (₹2,650-2,780) for M-grade. The Bombay Sugar Merchants Association’s spot rates: S-grade ₹2,712-2,811 (₹2,712-2,811) and M-grade ₹2,822-2,946 (₹2,816-2,942). Naka delivery rates: S-grade ₹2,630-2,710 (₹2,630-2,710) and M-grade ₹2,725-2,880 (₹2,725-2,880).
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