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Sugar prices ruled steady on Tuesday on the back of routine retail demand amid ample supply. On the spot, prices were range bound with ₹3-5 a quintal volatility in line with quality. Naka and mill tender rates were steady on lower demand. Morale was calm and steady. Sources said that more producers offered to sell tender the previous day evening but could not get expected response forcing them to keep offer open. Due continues rain this week retailer’s demand remained need-based. Freight rates were steady despite rain.
Arrivals at Vashi market were higher at 63-64 truck loads and local dispatches were 60-62 truck loads. On Monday evening, 21- 22 mills offered tenders and sold 58,000-60,000 bags at ₹2,950-3,020 (₹2,950-3,020) for S-grade and ₹3,070-3,180 (₹3,070-3,180) for M-grade.
Bombay Sugar Merchants Association’s spot rates: S-grade ₹3,110-3,202 (₹3,105-3,202) and M-grade ₹3,202-3,382 (₹3,202-3,382). Naka delivery rates: S-grade ₹3,050-3,140 (₹3,050-3,120) and M-grade ₹3,150- 3,290 (₹3,150-3,290).
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