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Sugar prices at Vashi declined by ₹5-10 for S-grade and ruled steady for M-grade on eased local demand. Bearish sentiments at mill level kept naka and mill tender rates unchanged with lower volumes. Producers were keen to sell commodity at lower rates, narrowing the gap between fine and poor quality. With limited activities, morale remained weak. Market was under pressure, said sources.
Arrivals at Vashi was 56-58 truckloads and local dispatches were 54-55 truckloads. Freight rates were hovering near ₹80-100. Inventory in the market was expected at 110-115 truckloads. On Thursday, about 18-20 mills offered tenders and sold about 34,000-35,000 bags at ₹3,100-3,200 a quintal of S-grade and ₹3,210-3,350 of M-grade.
The Bombay Sugar Merchants Association’s spot rates : S-grade ₹3,212-3,290 and M-grade ₹3,300-3,572
Naka delivery rates : S-grade ₹3,195-3,235and M- grade ₹3,245-3,405.
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