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Sugar prices extended loss by ₹30-40 a quintal on the Vashi spot market as stockists sold fair quality at lower rates making room for fresh stocks. Naka rates were down by ₹20-40 as pressure mounted for lifting the commodity. Less-than-expected demand forced millers to sell at ₹20 lower but despite that the volume remained thin.
Vashi market is continuously carrying about 115-120 truckloads of inventory keeping stockists away from building up higher stocks. Arrivals continued to be over 62-63 truck loads and local dispatches were lower at 58-60 truck loads. On Thursday evening, 10-12 mills offered tenders and sold merely 25,000-30,000 bags at ₹2,940-3,020 (₹2,960-3,040) for S-grade and ₹3,080-3,180 (₹3,100-3,210) for M-grade.
Bombay Sugar Merchants Association’s spot rates: S-grade ₹3,102-3,202 (₹3,142-3,202) and M-grade ₹3,200-3,382 (₹3,250-3,382). Naka delivery rates: S-grade ₹3,050-3,100 (₹3,060-3,140) and M-grade ₹3,150-3,250 (₹3,170-3,250).
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