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Sugar prices declined by ₹5-10 a quintal on the Vashi wholesale market for fair variety on Tuesday following routine activities. Prices for the fine quality ruled unchanged. As supply is abundant and demand comparatively lower, the price volatility was thin.
Naka rates were up by ₹10-30 as reselling pressure eased. Mill tender rates were steady. Sources said the sentiment was positive despite routine volumes as freight rates increased further by ₹5-7. Demand from bulk users remained limited. Producers are continuously selling to ease old stock burden.
Arrivals were at 58-60 truckloads and local dispatches were 60-61 loads. The Bombay Sugar Merchants Association’s spot rates: S-grade ₹2,960-3,042 (₹2,970-3,042) and M-grade ₹3,050-3,221 (₹3,080-3,226). Naka delivery rates: S-grade ₹2,900-3,000 (₹2,910-2,970) and M-grade ₹3,050-3,120 (₹3,020-3,100).
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