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Sugar prices at upper mill and naka level ruled steady on Thursday on less than expected demand. At the Vashi spot market, prices were down by ₹5-10 a quintal for S-grade on lack of demand. Higher buying interest for M-grade continued.
Arrivals increased to 44-45 truck loads (of 10 tonnes each) and local dispatches were at 42-43 loads. Inventories were about 90 truckloads. Freight rates were stable at ₹85-100 per bag.
On Saturday evening, 19-20 mills offered tenders and sold about 58,000-60,000 bags at ₹3,150-3,210 for S-grade and ₹3,250-3,310 for M-grade.
The Bombay Sugar Merchants Association spot rates (₹/quintal): S-grade 3,300-3,382 and M-grade 3,410-3,590. Naka delivery rates (₹/quintal): S-grade 3,250-3,320 and M-grade 3,370-3,420.
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