Sugar market rules flat

Sugar market ruled flat on sufficient supply amid need base wholesale and retail demand. Sugar prices at Vashi spot market declined over ₹130-150 per quintal on producers selling pressure. Prices at Vashi remained steady with ₹5-10 higher-lower as per quality. Naka rates were unchanged. At Vashi arrivals were 58-60 truck loads and local dispatches were 55-56 truck loads. Freight rates were steady and inventory was expected at 110-115 truck loads. On Tuesday evening about 20 mills sold about 40,000 bags at ₹2,800– 2,880 for S-grade and ₹2,900-3,010 for M-grade. On Bombay Sugar Merchants Association’s spot rates were: S-grade ₹3,022-3,142 and M-grade ₹3,132-3,332. Naka delivery rates were: S-grade ₹2,960-3,050 and M-grade ₹3,040 – 3,150.