Sugar market ruled steady at upper mill-naka level and declined by ₹5-10 at Vashi on Thursday. Need-based routine demand amid sufficient bulk and retail demand kept activities limited. Last year’s heavy carryover stock and the current year’s production prompted mills to keep selling and the prices were range-bound. To keep prices under check, the government has fixed minimum selling price at ₹3,100.
Arrivals were 59-60 truckloads and local dispatches were 56-58 truckloads. On Wednesday, 15-16 sold 34,000-35,000 bags at ₹3,100-3,230 a quintal of S-grade and ₹3,210-3,380 of M-grade.
Bombay Sugar Merchants Association's spot rates: S-grade Rs 3232 - Rs 3332 (Rs.3242 - Rs 3392) and M-grade Rs 3352- Rs 3582 (Rs 3362– Rs 3586).
Naka delivery rates: S-grade Rs 3205 – 3245 (Rs 3205 – Rs 3245) and M- grade Rs 3255 – 3415 (Rs 3255 – Rs 3415).