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Sugar prices on the Vashi wholesale spot market declined ₹10-30 a quintal on Tuesday as freight rates dropped by ₹10-15 per bag with availability of trucks turning easy. Before Diwali, transportation charges went up by ₹20-25. Naka prices eased by ₹10 for S-grade and ₹30 for M-grade.
Local demand remained subdued as Diwali is over and new crushing activities are expected to pick up soon. Vashi market carries over 110 truckloads stocks keeping stockists away from building fresh inventories. Arrivals at Vashi market were 61-62 truckloads while local despatched remained lower at 58-60 loads. On Monday, about 18-20 mills offered tenders and sold 58,000 - 60,000 bags at ₹2,770-2,890 (₹2,770-2,900) for S-grade and ₹2,880-3,000 (₹2,880-3,000) for M-grade.
Bombay Sugar Merchants Association’s spot rates were: S-grade ₹2,932- 3,046 (₹2,932- 3,046) and M-grade was ₹3,032-3,182 (₹3,062-3,192).
Naka delivery rates were: S-grade ₹2,860-2,970 (₹2,870-2,980) and M-grade ₹2,950-3,090 (₹2,990-3,120).
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