Sugar prices ruled steady on Monday with improved volume at mill level. Stockists started building up fresh inventory considering the lower price. Prices at Vashi terminal market showed a mixed trend. Prices of the S-grade were up ₹5-7 a quintal and that of M-grade were down ₹5-10. Naka and mill tender rates were unchanged.
Arrivals were at 60-62 truck loads and local dispatches were at the same level. On Saturday evening, about 21-22 mills offered tenders and sold about 64,000-65,000 bags at ₹2,860-2,970 for S-grade and ₹2,970-3,100 for M-grade. Inventory at Vashi was estimated at 105-110 truck loads. Freight rates were steady.
The Bombay Sugar Merchants Association’s spot rates: S-grade ₹3,012-3,126 and M-grade ₹3,112-3,306. Naka delivery rates: S-grade ₹3,015-3,075 and M-grade ₹3,065-3,170.
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