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Sugar prices on the Vashi wholesale market declined by ₹4-6 a quintal on Tuesday following routine, need-based demand. Prices on the NCDEX extended further loss by ₹15-20 in the absence of higher offtake by mills. Producers continued selling, while stockists stayed away from bulk purchase on the back of ample stocks . The Vashi market carries some 110-115 truckloads of stocks since start of the marketing year, keeping activities limited.
Arrivals continued to be at 61-62 loads, while local dispatches were 60-61 loads. On Monday, about 22-23 mills offered tenders and sold 58,000-60,000 bags at ₹2,540-2,650 (₹2,540-2,650) for S-grade and ₹2,650-2,780 (₹2,650-2,780) for M-grade.
The Bombay Sugar Merchants Association’s spot rates: S-grade ₹2,696-2,902 (₹2,702-2,902) and M-grade ₹2,822-3,011 (₹2,826-3,011). Naka delivery rates: S-grade ₹2,650-2,700 (₹2,650-2,730) and M-grade ₹2,750-2,900 (₹2,750-2,900).
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