Sugar prices on the Vashi wholesale market declined by Rs.36/quintal at the lower side while ruling steady at the upper side on Thursday as producers sold fair quality old stocks at lower rates and kept fine variety prices steady. Major producers kept tender offer open previous day evening due to slack demand.

Naka rates were down by Rs.10-20 for S-grade. Tender rates were almost unchanged. Sentiment was calm and cool as enough supply and stocks kept stockists away from taking big position. Arrivals were at 60-61 truck loads and local dispatches improved to 59-60 truck loads. On Wednesday, 19-20 mills offered tenders and sold 54,000-55,000 bags at Rs.2,830-2,930 (Rs.2,830-2,930) for S-grade and Rs.2,940-3,040 (Rs.2,940-3,040) for M-grade.

The Bombay Sugar Merchants Association’s spot rates: S-grade Rs.2,996-3,105 (Rs.3,032-3,102) and M-grade Rs.3,106-3,292 (Rs.3,142-3,292).Naka delivery rates: S-grade Rs.2,900-2,980 (Rs.2,910-3,000) and M-grade Rs.3,000-3,150 (Rs.3,000-3,150).

Source :-Business Line