Sugar prices remain steady

Sugar prices rule weak on Friday on increased reselling pressure. At Vashi, naka rates drop by ₹5 while spot rates remained steady. Mill tender rates were unchanged as producers continued selling prevailing rates. Arrivals and local dispatches remain at par with routine volumes. Morale was weak said sources. Arrivals at Vashi were about 44-45 and truck loads (Each of 10 tonnes) and local dispatches were at same level. Inventories at terminal market were about 95-100 truck loads. Freight rates were steady at ₹80-95 per bag. On Thursday, about 16-18 mills offered tenders and sold about 38,000–40,000 bags at ₹3,1503,220 (₹3,150–₹3,220) for S-grade and ₹3,240–₹3,320 (₹3,240–3,320) for M-grade. On Bombay Sugar Merchants Association’s spot rates (Rs/Quintal): S-grade ₹3,292–₹3,362 (₹3,292- 3,352) and M-grade ₹3,386– 3,512 (₹3,386-3,512).