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Sugar prices ruled unchanged on Thursday on routine demand, supply and volumes. Expectation of cess on the sweetener snapped the bearish trend which was in place for almost a month.
Sources said stockists stayed away from bulk buys. Mills continued to sell the commodity at prevailing rates but less-than-expected demand forced them to keep their sell offer open. Arrivals to the Vashi market were at 57-58 truck loads and local dispatches were at same level.
Freight rates were steady. Inventory was about 105-110 loads. The Bombay Sugar Merchants Association’s spot rates: S-grade ₹2,680-2,825 and M-grade ₹2,750-2,962. Naka delivery rates: S-grade ₹2,600-2,700 and M-grade ₹2,700-2,900.
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