Sugar prices on the Vashi wholesale market declined by ₹5-10 a quintal for M-grade, while the S- grade ruled unchanged on Monday on the back of sufficient arrivals amid limited retail demand. Naka prices were steady. Sources said as market will remain closed from Thursday for the weekend, the local offtake will behigher this week. On Saturday, mills from Maharashtra kept their sale offer open indicating higher selling pressure at upper level due to limited demand from stockists. Arrivals were at 62-63 truckloads and local dispatches at 61-62 loads. On Saturday evening, 18-20 mills offered tenders and sold 46,000-48,000 bags at ₹2,790-2,900 (₹2,800-2,910) for S-grade and ₹2,900-3,000 (₹2,910-3,010) for M-grade.
The Bombay Sugar Merchants Association’s spot rates: S-grade ₹2,972-3,052 (₹2,972-3,052) and M-grade ₹3,070-3,250 (₹3,076-3,260). Naka delivery rates: S-grade ₹2,900-2,980 (₹2,900-2,980) and M-grade ₹3,000-3,120 (₹3,000-3,120).