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The sugar market witnessed a bearish trend on Tuesday on higher selling pressure amidst need-based demand. On Monday, about 16 mills sold 18,000-20,000 bags at ₹2,950-3,020 for S-grade and ₹3,040-3,120 for M-grade. In resell DO trade stockists bought about 1,000 bags at ₹15-20 lower. Bombay Sugar Merchants Association spot rates: S-grade ₹3,120-3,242 and M-grade ₹3,176-3,442. Naka delivery rates: S-grade ₹3,060-3,130 and M-grade ₹3,120-3,240.
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