Mixed trend in sugar
Sugar prices at Vashi declined by ₹5-10 a quintal for S-grade and ruled steady for M-grade on eased demand amid normal supply. Naka and mill tender rates were unchanged on limited demand. As supply from mills and stocks available at Vashi remained enough, stockists stayed away from fresh bulk buys and market remained under pressure.
Sources said demand remained thin due to month end keeping prices range bound at upper mill level. At Vashi sentiments was weak due to need based local demand. New crushing season to pick up soon with higher production expectations the supply from mills remained ample. Freight rates were steady.
Arrivals at Vashi were 62 truck loads and local dispatches were at same level. On Monday evening 15 mills offer tenders and sold about 30,000 bags at ₹3,510 – 3,570 (₹3,510-3,570) for S-grade and ₹3,610-3,670 (₹3,610-3,670) for M-grade.
On Bombay Sugar Merchants Association’s spot rates were: (in ₹) S-grade 3,650- 3,720 (3,660 – 3,730) and M-grade 3,772 – 3,922 ( 3,766 – 3,922).
Naka delivery rates were: (in ₹) S-grade 3,600 – 3,670 (3,600 – 3,670) and M-grade3,700 – 3,780 ( 3,700 – 3,780).