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Sugar prices on the Vashi market declined by ₹10-15 a quintal on Friday as stockists and producers continued selling fair quality old stocks at lower prices. Naka prices came down by ₹20-30 with some lot of M-grade trading lower by ₹60. Mill tender prices dropped by ₹10-15 as demand remained thin. Morale was weak, said sources.
Arrivals were at 61-62 truck loads while local dispatches were about 59-60 truck loads. On Thursday, about 18-19 mills offered tenders and sold 44,000-45,000 bags at ₹2,660-2,760 (₹2,670-2,770) for S-grade and ₹2,760-2,880 (₹2,770-2,900) for M-grade.
The Bombay Sugar Merchants Association’s spot rates: S-grade ₹2,832-2,990 (₹2,836-2,990) and M-grade ₹2,932-3,125 (₹2,962-3,132). Naka delivery rates: S-grade ₹2,740-2,800 (₹2,760-2,830) and M-grade ₹2,850-3,000 (₹2,910-3,000).
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