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Sugar market maintained a firm trend on Thursday. Spot prices ruled steady on limited local demand while naka rates went up by ₹20, tracking firm mill tender rates. Bulk demand continued to support prices at producing level, market sources said.
Arrivals at Vashi market were limited and local dispatches remained low compared with pre-lockdown days. New arrivals at Vashi were 34-35 truckloads and local dispatches were at the same level. Inventories at Vashi were 75-80 truckloads. Freight rates were steady at ₹85-100 per bag.
On Wednesday, 16-18 mills sold about 44,000-45,000 bags at ₹3,120-3,200 (₹3,110-3,190) of S-grade and ₹3,220-3,300 (₹3,200-3,270) of M-grade.
The Bombay Sugar Merchants Association's spot rates were (₹/quintal): S-grade 3,292-3,362 (3,290-3,362) and M-grade 3,320-3,552 (3,330-3,552).
Naka delivery rates were (₹/quintal): S-grade 3,280-3,300 (3,260-3,280) and M-grade 3,320-3,390 (3,300-3,370).
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