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Surplus stocks continue to weigh on sugar market keeping the prices under pressure. On Monday, prices at the Vashi wholesale market declined by ₹10-20 a quintal on subdued demand. Naka rates dropped by ₹20 on higher reselling. Seeing limited bulk demand producers sold the commodity at ₹10 lower.
Arrivals were about 34-35 truckloads (Each of 10 tonnes) and local dispatches were at 32-34 truckloads. On Saturday, about 16-18 mills offered tenders and sold about 38,000 – 40,000 bags at ₹3,100-3,170 for S-grade and ₹3,170-3,250 for M-grade.
The Bombay Sugar Merchants Association spot rates (₹/quintal): S-grade 3,252-3,302 and M-grade 3,320-3,462. Naka delivery rates (₹/quintal): S-grade 3,190-3,240 and M-grade 3,250-3,340.
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