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Sugar prices were mixed on the Vashi wholesale market on Wednesday with demand and supply being routine. Prices for S-grade eased by ₹10 a quintal and for M-grade ₹2. Naka and mill tender prices were unchanged as producers continued offering at prevailing rates. The sentiment was cautious as ample supply and stocks weighed.
Sources said local offtake was higher than arrivals as the Vashi market will remain closed for next two days. There are 115-120 truckloads stocks lying in the markets and stockists are not in a mood to take fresh positions. Arrivals were 58-60 truckloads and local dispatches 62-63 loads. On Tuesday evening, 19-20 mills offered tenders and sold 48,000-50,000 bags at ₹2,790-2,900 (₹2,790-2,900) for S-grade and ₹2,900-3,000 (₹2,900-3,000) for M-grade.
The Bombay Sugar Merchants Association’s spot rates: S-grade ₹2,960-3,042 (₹2,960-3,052) and M-grade ₹3,072-3,242 (₹3,070-3,242). Naka delivery rates: S-grade ₹2,900-2,980 (₹2,900-2,980) and M-grade ₹3,000-3,120 (₹3,000-3,120).
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