Weak trend was witnessed in the Vashi spot sugar market on Tuesday on higher resale at naka level. Producers sold the old fair quality stocks at ₹10 discount. Prices at naka level dropped by ₹15 a quintal.
Ready spot and mill tender rates remained unchanged. Mills’ continuous supply due to heavy stocks kept the activities normal and need-based. Morale was weak, said sources.
Arrivals were about 45-46 truck loads (of 10 tonnes each) and local dispatches were at 44-45 loads. At Vashi, inventory was about 95-100 truck loads. Freight rates were steady at ₹80-100 per bag.
On Monday evening, 20 mills sold about 48,000-50,000 bags at ₹3,150-3,210 for S-grade and ₹3,240-3,310 for M-grade.
The Bombay Sugar Merchants Association spot rates (₹/quintal): S-grade 3,280-3,352 and M-grade 3,386-3,502. Naka delivery rates (₹/quintal): S-grade 3,245-3,295 and M-grade 3,345-3,395.