MUMBAI, FEBRUARY 6:
Continuous selling by mills kept sugar prices under pressure on spot and futures markets. Sugar prices on the Vashi wholesale market dropped by ₹10 a quintal for S-grade at higher side and ₹20 for M-grade at lower side. Mill tender rates lost ₹10-20 but some mills sold very old stocks of fair variety with a further discount of ₹10-20. Naka rates were unchanged.
Arrivals were routine at 60-61 truckloads and local dispatches were 59-60 loads. On Thursday, about 19-20 mills offered tenders and sold 48,000-50,000 bags at ₹2,530-2,650 (₹2,550-2,670) for S-grade and ₹2,640-2,790 (₹2,650-2,800) for M-grade.
The Bombay Sugar Merchants Association’s spot rates: S-grade ₹2,665-2,762 (₹2,665-2,772) and M-grade ₹2,780-2,942 (₹2,800-2,942). Naka delivery rates: S-grade ₹2,600-2,700 (₹2,600-2,700) and M-grade ₹2,720-2,870 (₹2,720-2,870). (businessline)
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