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Sugar market witnessed a bearish trend on higher sale quota for September. Prices at the Vashi wholesale market declined by ₹20 a quintal as producers sold the sweetener at ₹25-30 lower. Naka rates were steady. Freight rates were steady at ₹90-100 per bag. Arrivals were higher at 67-68 truck loads and local dispatches were at 64-65 loads. On Monday evening, 25 mills offered tenders and sold about 48,000-50, 000 bags at ₹2,940-3,050 for S-grade and ₹3,050-3,130 for M-grade. The Bombay Sugar Merchants Association’s spot rates: S-grade ₹3,100-3,190 and M-grade ₹3,196-3,422. Naka delivery rates : S-grade ₹3,100-3,160 and M-grade ₹3,150-3,260.
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