Sugar prices ruled steady on Friday in the absence of cues from mills in Maharashtra. On the Vashi wholesale market, activities remained routine with arrivals and offtake being routine. Prices for S-grade dropped by ₹10 a quintal. There were no changes in naka and mill tender rates as producers continued offloading amid slack demand. Futures market was closed for holiday. Peak summer season and higher consumption of sugar during the period will be the supporting factor for the market and price. Production season will also be ending soon. Demand from bulk consumers such as soft-drinks and ice-cream makers in the spot market and fall in sugar production led to persistent rise in sweetener prices.
Arrivals at Vashi market were around 60-62 truckloads (of 100 bags each) and the local dispatches were 59- 60 loads. Prices at mill level ruled steady at ₹3,100-3,160 for S-grade and ₹3,150-3,330 for M-grade.
Bombay Sugar Merchants Association’s spot rates were: S-grade ₹3,222-3,380 and M-grade was ₹3,350-3,512. Naka delivery rates were: S-grade ₹3,200-3,250 and M-grade ₹3,300-3,400.
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