Sugar prices on the Vashi market declined by ₹96 a quintal for M-grade at the lower side as a producer sold old stock with heavy discount while at the upper side it gained by ₹4. S-grade declined by ₹13 at the higher side and remained unchanged at the lower side. Naka prices ruled steady. A Vashi-based wholesaler said one of the Maharashtra’s mills sold old stock of M-grade with a ₹40-50 discount which pulled down prices and morale on spot market. Freight rates were steady. Vashi market carried about 110-115 truck loads stocks keeping stockists away from building up surplus inventory. Arrivals at Vashi market were 61-62 truck loads and local dispatches were about 59-60 loads. On Monday evening, about 15-16 mills offered tenders and sold about 44,000-45,000 bags at ₹2,225-2,380 (2,225-2,380) for S-grade and ₹2,320-2,480 (2,370-2,480) for M-grade.
The Bombay Sugar Merchants Association’s spot rates: S-grade ₹2,402-2,542 (2,402-2,555) and M-grade ₹2,486-2,706 (2,582-2,702). Naka delivery rates: S-grade ₹2,350-2,475 (2,350-2,475) and M-grade ₹2,450-2,600 (2,450-2,600).
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