Sugar prices on the spot and futures ruled steady with thin volatility on Friday. On the Vashi market, prices declined by ₹3-4 a quintal on eased local demand amid ample supply. Major producers kept tender offer open on less-than-expected demand. Enough inventory kept the volume routine. Naka and mill tender rates were unchanged.
Arrivals were at 59-60 truck loads and local dispatches at 56-57 truck loads. On Thursday evening, 19-20 mills offered tenders and sold hardly 40,000-42,000 bags at ₹2,830-2,930 (₹2,830-2,930) for S-grade and ₹2,940-3,040 (₹2,940-3,040) for M-grade.
The Bombay Sugar Merchants Association’s spot rates: S-grade ₹2,996-3,102 (₹2,996-3,105) and M-grade ₹3,102-3,292 (₹3,106-3,292).
Naka delivery rates: S-grade ₹2,900-2,980 (₹2,910-3,000) and M-grade ₹3,000-3,150 (₹3,000-3,150).
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