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Sugar prices declined by ₹20-30 a quintal on the higher side despite higher volume exerting pressure on the Vashi wholesale spot market. Prices at spot and naka level remained steady.
As Vashi market was closed, there were no loading/unloading of the commodity. But previous day evening, Maharashtra’s producers sold nearly one lakh bags on the back of higher demand. Mills sold old stocks at ₹20-30 lower as production is on peak stage.
On Wednesday evening, about 24-25 mills offered tenders and sold about 95,000-1,00,000 bags at ₹2,450-2,600 (₹2,450-2,630) for S-grade and ₹2,580-2,750 (₹2,580-2,780) for M-grade.
Nominal spot rates: S-grade ₹2,640-2,750 and M-grade ₹2,732-2,930. Naka delivery rates: S-grade ₹2,560-2,660 and M-grade ₹2,660-2,850.
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