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Sugar prices continued to rule weak on Thursday on back of higher selling amid need-based physical demand. On the Vashi wholesale market, S-grade declined by ₹23 on higher side, while the M-grade dipped by ₹36 on the lower side and increased by ₹16 on higher end. Naka rates ruled unchanged for the fifth day. Mill tender rates declined by ₹20 a quintal for S and M varieties. With routine activities sentiments remained bearish. Arrivals at the Vashi market were 55-56 truckloads (of 100 bags each) and the local dispatches were 54-55 loads. On Wednesday, 14-15 mills managed to sell hardly 33,000-35,000 bags at ₹2,930-3,000 (₹2,930-3,020) for S-grade and ₹3,030-3,150 (₹3,050-3,150) for M-grade.
Bombay Sugar Merchants Association’s spot rates: S-grade ₹3,100-3,222 (₹3,100-3,245) and M-grade was ₹3,200-3,412 (₹3,236-3,396). Naka delivery rates: S-grade ₹3,060-3,130 (₹3,060-3,130) and M-grade ₹3,170-3,270 (₹3,170-3,270).
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