Sugar prices on the Vashi market declined by ₹10 a quintal while it was unchanged at Naka and mill level. Increased stock pressure on stockists forced them to sell the commodity at a discount but at upper mill level producers were not ready to sell for a lower price.
Inventory at Vashi market increased to 115-120 truck loads this week on back of ample arrivals. On Tuesday evening, hardly 10-12 mills offer tenders and sold hardly 18,000-20,000 bags at ₹2,350-2,450 (2,350-2,450) for S-grade and ₹2,410-2,530 (2,410-2,530) for M-grade.
Arrivals at Vashi market were 61-62 truck loads while local dispatches were 58-60 loads. Freight rates were steady.
The Bombay Sugar Merchants Association’s spot rates: S-grade ₹2,392-2,502 (2,396-2,502) and M-grade ₹2,470-2,592 (2,480-2,602). Naka delivery rates: S-grade ₹2,380-2,480 (2,380-2,480) and M-grade ₹2,500-2,600 (2,500-2,600).
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