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Sugar prices on the Vashi wholesale market declined by ₹15-30 a quintal on higher selling pressure backed by ample supplies. Producers continued selling the commodity at ₹10-15 lower for old stocks. Naka trade for new stocks was done at steady prices. Arrivals were at 58-60 truck loads and local dispatches were at the same level. On Thursday evening, 20-22 mills offered tenders and sold about 44,000-45,000 bags at ₹2,940-3,140 for S-grade and ₹3,050-3,220 for M-grade. The Bombay Sugar Merchants Association’s spot rates: S-grade ₹3,116-3,210 and M-grade ₹3,230-3,460. Naka delivery rates: S-grade ₹3,125-3,300 and M-grade ₹3,170-3,400.
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