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The bearish trend continued in the Vashi wholesale sugar market on back of need-based local demand amid higher supply. On the spot, prices came down further by ₹12-20 a quintal. Producers continued selling by keeping their rates unchanged and sell tender offer open. Naka and mill tender prices were unchanged with routine volumes. Arrivals declined to 59-60 truck loads and local dispatches were about 57-58 loads. On Tuesday evening, about 19-20 mills offered tenders and sold about 38,000-40,000 bags at ₹2,170-2,320 (2,170-2,320) for S-grade and ₹2,260-2,440 (2,260-2,440) for M-grade.
The Bombay Sugar Merchants Association’s spot rates: S-grade ₹2,322-2,521 (2,342-2,520) and M-grade ₹2,460-2,660 (2,460-2,672). Naka delivery rates: S-grade ₹2,250-2,350 (2,310-2,350) and M-grade ₹2,400-2,560 (2,400-2,560).
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