Slack demand keeps sugar flat
       Date 06-May-2015
       Source Business Line
       News Id 1712
Sugar prices on the Vashi wholesale market ruled flat on Tuesday on isolated retail demand and routine activities at upper mill level. Due to slack wholesale demand the volume at mill level remained thin. Producers sold the commodity at ?10-15 a quintal. In spot and naka level, prices were steady with thin volatility. Sources said as stockists tried to fulfil old commitments they stayed away. Ample stocks in the market and isolated local retail demand kept the volume lower. The Vashi market carries about 110-115 truckloads stocks. Traders are now eying on how governments reacts on quota system and buffer stocks. Arrivals were at 62-63 truckloads and local dispatches were 61-62 loads. On Monday evening, 15-16 mills offered tenders and sold about 38,000-40,000 bags at ?2,370-2,450 (2,380- 2,460) for S-grade and ?2,480-2,560 (2,490-2,570) for M-grade. The Bombay Sugar Merchants Association’s spot rates: S-grade ?2,532-2,632 (2,536-2,622) and M-grade ?2,592-2,742 (2,630-2,742). Naka delivery rates: S-grade ?2,490-2,550 (?2,490-2,550) and M-grade ?2,550-2,670 (2,550-2,670).