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Sugar market ruled steady on Wednesday on routine demand, supply and volumes. Naka rates were up by ₹20 a quintal erasing previous day’s drop on decreased reselling pressure. Mill rates were unchanged as they continued selling at prevailing rates. Morale was steady, said sources.
Arrivals at the Vashi terminal market were about 48 – 50 truck loads (of 10 tonnes each) and local dispatches, too, were at the same level. Freight rates were steady at ₹80-100 per bag.
On Tuesday evening, 18 mills sold about 54,000 – 55,000 bags at ₹3,150-3,220 for S-grade and ₹3,240-3,320 for M-grade.
The Bombay Sugar Merchants Association spot rates (₹/quintal): S-grade 3,280 – 3,352 and M-grade 3,386 – 3,502.
Naka delivery rates (₹/quintal): S-grade 3,245-3,315 and M-grade 3,365 – 3,415.
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