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Sugar prices further weakened by ₹10-20 a quintal at Vashi market tracking higher selling pressure amid slack physical demand. Higher sugar production in Maharashtra and Uttar Pradesh has added pressure on producers to sell old stocks which resulted in the bearish sentiment.
Naka rates were steady. Arrivals were steady at 58-60 truck loads and local dispatches were at 57-58 loads. Freight rates were steady. The Bombay Sugar Merchants Association’s spot rates: (in ₹) S-grade 3,470-3,580 and M-grade 3,606-3,782.
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