Sugar prices at the Vashi market further weakened by ₹5-10 a quintal on Wednesday as local demand eased. Ample supplies and profit-booking by stockists kept the market under thin volatility. Naka rates were up ₹20 on eased resale pressure.
Arrivals to the Vashi market increased to 59-60 truck loads and local dispatches were at 57-58 loads. Freight rates were steady.
On Tuesday evening, about 16-18 mills offered tenders and sold about 34,000-35,000 bags at ₹3,110-3,200 for S-grade and ₹3,200-3,300 for M-grade.
The Bombay Sugar Merchants Association’s spot rates: S-grade ₹3,200-3,280 and M-grade ₹3,290-3,490. Naka delivery rates: S-grade ₹3,130-3,230 and M-grade ₹3,220-3,310.