Sugar flat in routine trade

Sugar prices ruled unchanged on Thursday on routine demand, supply and volumes. Expectation of cess on the sweetener snapped the bearish trend which was in place for almost a month.

Sources said stockists stayed away from bulk buys. Mills continued to sell the commodity at prevailing rates but less-than-expected demand forced them to keep their sell offer open. Arrivals to the Vashi market were at 57-58 truck loads and local dispatches were at same level.

Freight rates were steady. Inventory was about 105-110 loads. The Bombay Sugar Merchants Association’s spot rates: S-grade ₹2,680-2,825 and M-grade ₹2,750-2,962. Naka delivery rates: S-grade ₹2,600-2,700 and M-grade ₹2,700-2,900.