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Sugar prices ruled steady on Tuesday on increased selling pressure. At the Vashi wholesale market, S-grade gained ₹5-10 a quintal. M-grade ruled unchanged.
Naka and mill tender rates were steady as producers continued to sell at prevailing rates.
Arrivals and local dispatches remain at par with routine volumes. Morale was weak, said sources.
Arrivals were about 40-42 truck loads (each of 10 tonnes) and local dispatches were at same level. Inventories were about 95- 100 truck loads. Freight rates were steady ₹80-95 per bag.
On Monday evening, 16 mills sold about 38,000 – 40,000 bags at ₹3,150 – 3,220 for S-grade and ₹3,240 –3,320 for M-grade.
The Bombay Sugar Merchants Association spot rates (₹/quintal): S-grade 3,300 – 3,372 and M-grade 3,386 – 3,502.
Naka delivery rates (₹/quintal): S-grade 3,245 - 3,315 and M-grade 3,365- 3,415.
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