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Sugar prices ruled steady at the Vashi wholesale market on Thursday as traders expect announcement of November month’s quota. Prices for S-grade fair quality declined by ₹10 a quintal. Prices at naka and mill level remained range-bound. Inventory at Vashi remained stable at 110-115 truckloads keeping wholesalers away from fresh inventory buying. Freight rates, too, were stable at ₹80-100 a quintal.
Arrivals were at 58-60 truck loads and local dispatches, too, were at the same level. On Wednesday evening, due to lack of demand, hardly 10-12 mills sold 24,000-25,000 bags at ₹3,120-3,220 for S-grade and at ₹3240-3,400 for M-grade.
The Bombay Sugar Merchants Association spot rates: S-grade ₹3,232-3,402 (₹3,242-3,412) and M-grade ₹3,452-3,572 (₹3,452-3,570). Naka delivery rates: S-grade ₹3,230-3,340 (₹3,200-3,340) and M-grade ₹3,330-3,515 (₹3,310-3,515).
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