Sugar prices on the Vashi wholesale market ruled unchanged on routine demand-supply on Tuesday. However, at the upper mill level, the sentiment remained positive as millers sold more quantity. Due to lower demand, activities in the market remained under pressure and in disparity due to surplus inventory. Stockists kept away from fresh bets. Jagdish Rawal, a wholesaler said: “The volume at upper level was high on renewed demand from upcountry. Maharashtra’s mills sold more than 75,000 bags at ₹10-20 higher including one rail rake (about 27,000 bags) to neighbouring States and local traders. But prices at Vashi market remained under pressure due to month-end slack demand. Secondly, the market is carrying more than 110-115 truckloads inventory keeping stockists away from bulk buying.”

Arrivals at Vashi market were around 59-60 truckloads (of 100 bags each) while local dispatches were 57-58 truck loads. On Monday, 19-20 mills offered tenders and sold 78,000-80,000 bags at ₹2,570-2,670 (₹2,550-2,670) for S-grade and ₹2,760-2,820 (₹2,750-2,810) for M-grade.

Bombay Sugar Merchants Association’s spot rates were: S-grade ₹2,732-2,825 (₹2,732-2,825) and M-grade was ₹2,862-2,962 (₹2,862-2,962). Naka delivery rates were: S-grade ₹2,700-2,800 (₹2,700-2,800) and M-grade ₹2,830-2,930 (₹2,830-2,930).

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