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Sugar prices on the Vashi market dropped further by ₹15-20 a quintal on Wednesday as producers sold the commodity at ₹10-20 lower on the previous day evening. Lifting pressure for contracts having due dates pulled down naka rates by ₹40-65 for S-grade and by ₹20 for M-grade. Arrivals at Vashi market were 59-60 truck loads and local dispatches were about 57-58 loads. On Tuesday evening, about 19-20 mills offered tenders and sold about 54,000-55,000 bags at ₹2,200-2,370 (2,225-2,380) for S-grade and ₹2,300-2,470 (2,320-2,480) for M-grade.
The Bombay Sugar Merchants Association’s spot rates: S-grade ₹2,386-2,551 (2,402-2,542) and M-grade ₹2,482-2,702 (2,486-2,706). Naka delivery rates: S-grade ₹2,310-2,410 (2,350-2,475) and M-grade ₹2,430-2,600 (2,450-2,600).
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