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Bearish trend extended in sugar market as producers continued selling the commodity at lower rates to ease stock burden due to higher production this year. Prices at Vashi were down further by ₹10-20 a quintal. On Saturday evening, mills sold sugar at ₹20-25 lower but less-than-expected demand forced them to keep their tenders open. Naka rates declined by ₹5-10. Arrivals were at 58-60 truck loads and local dispatches were at 60-62 loads. The Bombay Sugar Merchants Association’s spot rates: S-grade ₹3,022-3,145 and M-grade ₹3,120-3,332 Naka delivery rates: S-grade ₹2,960-3,050and M-grade ₹3,040-3,150.
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