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Sugar prices on the Vashi market ruled weak on back of ample supply amid limited offtake. Prices for S-grade dropped further by ₹6-10 a quintal while M-grade declined by ₹2-5. Selling pressure for old stocks at mill and market level at a discount weighed on the prices. Naka and mill tender rates were unchanged.
Ample supply and enough stocks in the hands of stockists kept them away from building up new inventory. Vashi market currently carries 110-115 truck loads of stocks. Arrivals declined to 57-58 truck loads and local dispatches were about 56-57 loads. The Bombay Sugar Merchants Association’s spot rates: S-grade ₹2,272-2,505 (2,282-2,511) and M-grade ₹2,402-2,652 (2,402-2,652). Naka delivery rates: S-grade ₹2,250-2,400 (2,250-2,400) and M-grade ₹2,410-2,550 (2,410-2,550).
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