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Sugar market ruled flat with minor volatility upper level on Friday on expectation of supply could remain enough as government has extended the stock holding limit for six more months till 28 April. Spot and naka rates at Vashi remained unchanged and at mill level ₹5 increase – decrease seen as per selling need of producers. Due to month end activities remained need base and limited. Under current of the market was bearish but considering production cost much drop in price not expected at current prices level said sources.
Arrivals at Vashi were 58-60 truck loads and local dispatches were at 57- 58 truck loads. On Thursday 16-18 mills offer tenders and sold about 35,000 bags at ₹3,485-3,560 (₹3,490-3,565) for S-grade and ₹3,570-3,650 ( ₹3,575-3,655) for M-grade.
On Bombay Sugar Merchants Association's spot rates were: (in ₹) S-grade 3,636- 3,710 (3,636 – 3,710) and M-grade 3,740 – 3,912 (3,740 – 3,912).
Naka delivery rates were: (in ₹) S-grade 3,600 – 3,680 (3,600 – 3,680) and M-grade 3,650 – 3,780 ( 3,650 – 3,780).
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