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Sugar prices on the Vashi wholesale market terminal market dropped by ₹10-12 a quintal on Friday on slack demand. Pressure of lifting consignments before the due dates (June 15-20) led resellers to offload materials ₹30-50 lower in Naka Trade. Producers kept tender rates open and unchanged due to lower than expected demand. Sources said increase reselling at Naka trade dragged prices sharply. In the spot market, need-based demand from retailers kept prices on leash. The unwillingness of to sell at lower rates kept prices steady and tenders open. Volume remained routine.
Arrivals at Vashi market declined to 60-62 truckloads and local off take were 57-58 truck loads. On Thursday evening 18-20 mills offered tenders and sold 34,000-36,000 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 were: S-grade ₹3,022-3,165 (₹3,035-3,172) and M-grade was ₹3,152-3,311 (₹3,156-3,320).
Naka delivery rates were: S-grade ₹2,980-3,050 (₹3,000-3,100) and M-grade ₹3,080-3,200 (₹3,100-3,230).
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