Sugar prices at Maharashtra’s producing centers rule unchanged on seventh consecutive day on Tuesday need base local stockiest demand and absence of upcountry demand. At Vashi market local retailer’s routine demand kept prices unchanged. Likewise Naka trade activities were also at previous day’s level. Sentiment in physical and on futures markets remained calm and steady as there are enough stocks available at market level and producers are continuously selling.

Vashi base wholesaler said, currently we (market) carries about 115 – 120 truckloads of inventory and local retail demand is less than expected as school – collages are re-opened and monsoon rain also started. Retailers are keeping stocks as per need likewise wholesalers also follow the same sentiment. Producers are continuously offloading commodity in local markets in absence of neighboring states buying. They keep Tender offer open due to poor response. Hence market sees supply outstrips demand situation. Activities remain routine this month.

Arrivals at Vashi market decline to 59-60 truck loads and local off take were 58 – 60 truck loads. On Monday evening hardly 14 – 15 mills mange to sell about 38,000 - 40,000 bags at Rs 2,900 - 3,000 (Rs 2,900 - 3,000) for S-grade and Rs 3,000 - Rs 3,150 (Rs 3,000 - Rs 3,150) for M-grade.

On National Commodities and Derivatives Exchange July-14 futures was up at Rs 3,028 (Rs 3,023), August -14 dropped to Rs3,055 (Rs 3,058) and September -14 at Rs 3,011 (Rs 3,014) till 5.30 PM.

Bombay Sugar Merchants Association's spot rates were: S-grade Rs 3,023- Rs 3,142 (Rs 3,023 - Rs 3,162) and M-grade was Rs 3,152- 3,292 (Rs 3,152 - 3,292).

Naka delivery rates were: S-grade Rs 2,980- 3,050 (Rs 2,980 - 3,050) and M-grade Rs 3,100 - 3,200 (Rs 3,100 – Rs 3,200).

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