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Sugar prices declined by ₹10-20 a quintal at the Vashi market tracking a drop in mill tender rates. Producers sold the sweetener at lower rates on slack demand. Naka rates were steady. Arrivals to the Vashi market were at 58-60 truck loads and local dispatches were at 57-58 loads. Inventory remained stable at 105-110 loads. On Tuesday evening, 22 mills offered tenders and sold about 38,000-40,000 bags at ₹3,030-3,230 for S-grade and ₹3,150-3,330 for M-grade. Freight rates were steady. The Bombay Sugar Merchants Association’s spot rates: S-grade ₹3,190-3,270 and M-grade ₹3,290-3,552. Naka delivery rates: S-grade ₹3,090-3,300 and M-grade ₹3,260-3,400.
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