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Centre’s announcement of ₹4,000 a tonne subsidy for raw sugar exports has arrested the downtrend of sugar and prices stabilised at mill and market level on Friday. With ample supply and need-based physical demand prices at Vashi market ruled with thin volatility of ₹5-7 a quintal in line with quality. Naka and mill tender rates were unchanged. Arrivals at Vashi market were 62-63 truck loads and local dispatches were 60-61 loads. On Thursday evening, about 22-23 mills offered tenders and sold about 68,000-70,000 bags at ₹2,450-2,600 (2,450-2,600) for S-grade and ₹2,580-2,750 (2,580-2,750) for M-grade.
The Bombay Sugar Merchants Association’s spot rates: S-grade ₹2,650-2,750 (2,640-2,750) and M-grade ₹2,732-2,935 (2,732-2,932). Naka delivery rates: S-grade ₹2,570-2,670 (2,570-2,670) and M-grade ₹2,670-2,860 (2,670-2,860).
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