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Slack physical demand and higher selling pressure at mill level kept the sugar market bearish on Tuesday. Maharashtra’s producers sold the commodity at ₹10 a quintal lower resulting in a drop in naka rates. However, due to transporters’ strike, arrivals and local dispatches remained on par at Vashi keeping prices steady.
Arrivals to the Vashi market were 60-62 truck loads and local dispatches were at 60-61 loads. On Monday, 14-15 mills offered tenders and sold about 38,000-40,000 bags at ₹3,520-3,580 (3,530-3,590) for S-grade and ₹3,610-3,680 (3,620-3,690) for M-grade.
The Bombay Sugar Merchants Association’s spot rates: S-grade ₹3,676-3,756 (3,676-3,756) and M-grade ₹3,762-3,942 (3,762-3,940). Naka delivery rates: S-grade ₹3,630-3,700 (3,640-3,700) and M-grade ₹3,740-3,820 (3,750-3,800).
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