Sugar market is under bear grip as producers resorted to desperate selling on Wednesday. Maharashtra’s mills sold the sweetener at ₹20-30 a quintal lower on Tuesday evening, while naka rates crashed down by ₹50-150.
Arrivals were at 60-61 truck loads and local dispatches were at 59-60 loads. Freight rates were steady. The Bombay Sugar Merchants Association’s spot rates: S-grade ₹3,012-3,136 and M-grade ₹3,132-3,352. Naka delivery rates: S-grade ₹2,970-3,070 and M-grade ₹3,050-3,200.