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Sugar prices continued their bearish trend as Maharashtra’s producers sold the commodity at ₹20-25 a quintal lower to ease stocks. On the Vashi market prices declined by ₹15-20 on routine demand-supply. Naka rates came down by ₹40-120 for S-grade and declined by ₹40-60 for M-grade. A Vashi-based wholesaler said enough stocks, limited retail orders, continuous selling by producers continued to weigh on sentiment. Arrivals at Vashi market remain stable at 57-58 truck loads and local dispatches were about 56-57loads. On Monday evening, about 19-20 mills offered tenders and sold about 38,000-40,000 bags at ₹2,125-2,290 (2,150-2,300) for S-grade and ₹2,250-2,420 (2,250-2,440) for M-grade.
The Bombay Sugar Merchants Association’s spot rates: S-grade ₹2,252-2,491 (2,272-2,505) and M-grade ₹2,402-2,652 (2,402-2,652). Naka delivery rates: S-grade ₹2,210-2,280 (2,250-2,400) and M-grade ₹2,350-2,550 (2,410-2,550).
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