Sugar rates low but steady

Higher reselling pressure in sugar and weak local demand kept rates down in the Vashi sugar market. Arrivals and local dispatches were at par but lower compare to previous week. On Wednesday evening mills sold about 28,000- 30,000 bags at ₹3,160-3,250 a quintal S-grade and ₹3,260– 3,350 M-grade. At the Bombay Sugar Merchants Association spot rates were: S-grade ₹3,232-3,312; M-grade ₹3,302-3,600. Naka delivery rates were: S-grade ₹3,280– 3,380 (Rs 3,280 – Rs 3,380) and M-grade ₹3,330-3,420.