Continuous supply from mills, sufficient quota for October 20, and need-based bulk and local demand kept sugar prices unchanged at Vashi on Monday. Mill tender rates decline by ₹10 as mills continuous selling to manage finance. Due to limited demand, selling pressure kept morale steady, said sources.
Arrivals at Vashi were about 32-34 truckloads (each of 10 tonnes) and local dispatches were at same level. At Vashi, inventory reached to 100 truckloads. Freight rates were steady ₹80-100 per bag.
Market players were optimistic about higher festival demand during the second half of October, especially from North-East, along with the bulk demand with opening of hotel, restaurants and canteens etc, sources said.
On Saturday evening, 14-15 mills offered tenders and sold about 32,000-34,000 bags at ₹3,110-3,180 (₹3,120-3,190) for S-grade and ₹3,200-3,280 (₹3,200-3,290) for M-grade.
On Bombay Sugar Merchants Association's spot rates (₹/quintal): S-grade ₹3,256-3,342 (₹3,256-3,332) and M-grade ₹3,370-3,492 (₹3,370-3,492).
Naka delivery rates (₹/quintal): S-grade ₹3,230-3,280 (₹3,230-3,280) and M-grade ₹3,310-3,380 (₹3,310-3,380).