Bearish trend continues in sugar

Prices at the Vashi sugar market continued to decline by losing ₹10-30 a quintal as some mills in Maharashtra sold the commodity ₹10-20 lower than previous day’s close. Freight rates and inventories remained steady. Arrivals were at 59-60 truck loads and local dispatches were at the same level. The Bombay Sugar Merchants Association’s spot rates: S-grade ₹2,960-3,121 and M-grade ₹3,060-3,272. Naka delivery rates: S-grade ₹2,940-3,025 and M-grade ₹3,000-3,125.