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Sugar prices ruled weak at Vashi on Thursday on less than expected local demand amid higher selling pressure from producers. At the Vashi market, prices declined by ₹10-15 a quintal and naka level rates were steady. S
ome producers sold S-grade old stocks for ₹10 lower, while mills kept rates for new production steady. With routine arrivals- local dispatches and volume sentiments remained cool said sources.
Arrivals to the Vashi market were steady at 60-61 truck loads and local dispatches were 59-60 loads. Freight rates were steady and inventory at Vashi was estimated stable at 105-110 truck loads. On Wednesday evening, 20-22 mills offered tenders and sold about 45,000 bags at ₹3,050-3,250for S-grade and ₹3,180-3,350 for M-grade.
The Bombay Sugar Merchants Association's spot rates: (in ₹) S-grade 3,220- 3,362 and M-grade 3,310-3,590. Naka delivery rates: S-grade 3,200– 3,300and M-grade3,270-3,400.
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