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The sugar market remains under pressure from large carry-over stocks from last year. Prices for M-grade declined at the Vashi market by ₹10-40 on Thursday while S-grade ruled steady.
Naka and ex mill rates were unchanged. On Wednesday, 14-15 mills sold 30,000-32,000 bags at ₹3,100-3,200 (S-grade) and ₹3,200-3,400 (M-grade). Arrivals at Vashi were 54-55 truckloads and local dispatches were at the same level. Bombay Sugar Merchants Association spot rates: S-grade ₹3,232-3,386 and M-grade ₹3,332-3,590. Naka delivery rates: S-grade ₹3,180-3,280 and M-grade ₹3,355-3,495.
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