Sugar prices on the Vashi wholesale spot market ruled steady with minor changes on Tuesday. Local offtake remained higher as market will remain closed on Wednesday for Ashadhi Ekadashi festival and stockists placed more orders. But it did not affect prices as producers continued selling at prevailing rates. Jagdish Rawal of B Bhogilal and co, told Business Line, “Local despatchesimproved on local retailer’s higher orders as the market will remain closed tomorrow for Ashadhi Ekadashi Festival. At naka and spot level, prices showed thin volatility. The progress in cane is also satisfactory despite late monsoon. Ample stocks in markets and need-based demand on rainy days kept stockists away from building up surplus stocks. Freight rates ruled steady between ₹80 and ₹110 per bag.

Sugar prices in other producing centres remained at a par with Maharashtra, he said.

Arrivals in the Vashi wholesale market were higher at 62-64 truckloads and local dispatches were lower at 61-62 loads. On Monday, 18-20 mills offered tenders and sold about 38,000-40,000 bags at ₹2,935-3,020 (₹2,940- 3,020) for S-grade and ₹3,050-3,170 (₹3,080-3,180) for M-grade.

Bombay Sugar Merchants Association’s spot rates were: S-grade ₹3,100-3,192 (₹3,102-3,186) and M-grade was ₹3,200-3,392 (₹3,200-3,382).

Naka delivery rates were: S-grade ₹3,020-3,120 (₹3,040-3,110) and M-grade ₹3,140-3,280 (₹3,140-3,280).

Related Topics
comment COMMENT NOW