Sugar prices on the Vashi wholesale spot market ruled steady except the fair variety which ruled lower. Some stockists offloaded fair variety old stocks at ₹10-20 a quintal lower to ease inventory. Naka prices were down by ₹10-30 on higher selling pressure. Mill tender rates remained unchanged.

Sources said that prices in other producing centres remain at a par with Maharashtra keeping upcountry buying away from here and forcing producers to sell commodity in local markets only. Demand from local stockists remain need-based in view of this being middle of the month and onset of monsoon all this are putting pressure on prices. Supply is ample in local markets. Vashi market carries enough stocks and traders keep away from taking big buying risk. Freight rates were steady.

Arrivals at Vashi market declined to 60-61truckloads and local offtake was 58-59 loads. On Tuesday evening, hardly 17-18 mills sold about 54,000-55,000 bags at ₹2,900-3,000 (₹2,900-3,000) for S-grade and ₹3,000-3,150 (₹3,000-3,150) for M-grade.

Bombay Sugar Merchants Association’s spot rates: S-grade ₹3,003-3,136 (₹3,023-3,142) and M-grade was ₹3,142-3,292 (₹3,152-3,292). Naka delivery rates: S-grade ₹2,970-3,020 (₹2,980-3,050) and M-grade ₹3,070-3,170 (₹3,100-3,200).

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