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Bearish trend continued in sugar market on higher selling pressure amid slack demand at mill and market level. As retail and bulk demand remained thin amid increased selling pressure, prices were down by ₹10-20 a quintal at Vashi and by ₹20 at mill level.
This week arrivals remained slightly higher at Vashi lifting market inventory to 115-120 truck loads. Stockists bought S- grade at ₹3,010-3,070 and M-grade at ₹3,110-3,170 through resells D.O.
On Thursday evening, hardly 7- 8 mills were able off loads 3,800-4,000 bags at ₹3,060-3,140 for S-grade and ₹3,150-3,250 for M-grade.
Arrivals at Vashi were 61-62 truck loads and local dispatches were at 58-60 truck loads. The Bombay Sugar Merchants Association’s spot rates: (in ₹) S-grade 3,190-3,330 and M-grade 3,272-3,462. Naka delivery rates: (in ₹) S-grade 3,130-3,230 and M-grade 3,220-3,310.
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