Sugar prices declined by ₹8-10 at the Vashi market on Monday on the back of higher arrivals and stocks pressure. Traders sold the commodity at lower rates to make room for new arrivals. Naka and mill tender prices were unchanged on routine volume.
On Saturday, about 14-15 mill offered tenders and sold about 34,000 35,000 bags (100kg each) at ₹2,580-2,680 (₹2,580-2,680) for S-grade and ₹2,680-2,790 (₹2,680-2,790) for M-grade.
On NCDEX, futures prices for December-15 declined by ₹24 to ₹2,724 (₹2,748) and March-16 contracts dropped by ₹14 to ₹2,852 (₹2,866) till noon. The Bombay Sugar Merchants Association’s spot rates were: S-grade ₹2,680-₹2,792 (₹2,682-2,802) and M-grade was ₹2,782-2,912 (₹2,792–2,912).