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Bearish trend at the upper mill level pulled down sugar prices on the Vashi wholesale market by ₹10-20 a quintal on Wednesday. In absence of demand, Maharashtra’s producers sold sugar at ₹20-40 lower due to eased stock burden. Tracking weak mill tender rates, resellers sold the commodity at ₹40-50 lower in naka delivery trade. Arrivals at Vashi market were around 60-61 truckloads (of 100 bags each) and the local dispatches were 57-58 loads. Bombay Sugar Merchants Association’s spot rates: S-grade ₹3,126-3,271 (₹3,132-3,282) and M-grade ₹3,282-3,442 (₹3,282-3,472). Naka delivery rates: S-grade ₹3,060-3,120 (₹3,100-3,170) and M-grade ₹3,160-3,300 (₹3,200-3,350).
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