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Sugar prices ruled steady on Thursday on routine demand amid ample supply. Spot prices on the Vashi market declined by ₹10 for S-grade, while it was up by ₹5 for M-grade. Naka and mill tender rates ruled steady for the fourth consecutive day. Sources said that the physical market remained steady as producers are continuously selling at prevailing prices. Continuous rain also kept stockists and retail shopkeepers away from building up fresh/surplus inventory. Vashi market is carrying over 115 truckloads of inventory currently, sources said.
Arrivals at Vashi market were higher at 63-64 truckloads and local dispatches were 60-61 loads. On Wednesday evening, 16-17 mills offered tenders and sold 55,000-58,000 bags at ₹2,950-3,020 (₹2,950-3,020) for S-grade and ₹3,070-3,180 (₹3,070-3,180) for M-grade.
Bombay Sugar Merchants Association’s spot rates: S-grade ₹3,100-3,202 (₹3,110-3,202) and M-grade ₹3,202-3,386 (₹3,202-3,381). Naka delivery rates: S-grade ₹3,050-3,140 (₹3,050-3,140) and M-grade ₹3,150- 3,290 (₹3,150-3,290).
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