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Sugar prices at the Vashi spot market showed a mixed trend on Monday on routine activities. Renewed demand from retailers kept local activities and dispatches higher, while surplus stock burden of over 110 lakh tonnes at mill level kept activities limited and prices stable.
Mills are keen to sell prevailing rates to improve their financial liquidity. Sentiments for fresh bulk buying were need base on ease supply with enough stocks at Vashi. Morale was steady, said sources.
Arrivals at Vashi increased to 42-44 truck loads (of 10 tonnes) and local dispatches were at 44-45 loads. Inventories at Vashi were about 90 truckloads. Freight rates were stable at ₹85-100 per bag.
On Saturday evening, 18-20 mills offered tenders and sold about 48,000-50,000 bags at ₹3,150-3,210 for S-grade and ₹3,250-3,310 for M-grade.
The Bombay Sugar Merchants Association spot rates (₹/quintal): S-grade 3,300-3,382 and M-grade 3,410-3,590.
Naka delivery rates (₹/quintal): S-grade 3,250-3,320 and M-grade 3,370-3,420.
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