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Despite an announcement made by the Government for a quota of 20.50 lakh tonnes for August, sugar prices remained steady. Spot rates at the Vashi wholesale market were ₹10-20 a quintal higher/lower as per quality. Naka and mill tender rates were steady.
Arrivals were at 33-35 truck loads (of 10 tonnes each) and local dispatches were at 32-33 loads. Inventory was about 90 truck loads. Freight rates were stable at ₹85-95 per bag.
On Thursday evening, 13-14 mills offered tenders and sold about 24,000-25,000 bags at ₹3,150-3,210 for S-grade and ₹3,240-3,310 for M-grade.
The Bombay Sugar Merchants Association spot rates (₹/quintal): S-grade 3,322-3,382 and M-grade 3,410-3,580. Naka delivery rates were (₹/quintal): S-grade 3,230-3,290 and M-grade 3,350-3,400.
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