Sugar prices on the Vashi wholesale market extended last week’s loss by Rs 10-20 a quintal on Monday due to increased selling pressure at upper mill level for exhausting the open sale quota on time.

Naka prices ruled steady despite lifting pressure from mills.

Mill tender rates slipped by Rs 10-20.

A Vashi-based wholesaler said higher selling by producers pulled down prices further as retail demand for Dasara is over. Fresh demand for Diwali is expected from November 1.

The Government has warned producers to sell open sale quota allotted for October and November with the stipulated time to avoid unwanted rise in price during festival days. As a result, there is ample supply from mills in markets.

In Vashi, arrivals continued at 68-70 truck loads (each of 100 bags) and local dispatches were about 66-67 truck loads.

On Saturday evening, 14-15 mills offered tenders and sold 58,000-60,000 bags (each of 100 kg) to the local traders in the range of Rs 3,355-3,410 (Rs 3,370-3,420) for S-grade and Rs 3,410 - 3,530 (Rs 3,440 - 3,530) for M-grade.

The Bombay Sugar Merchants Association's spot rates: S-grade Rs 3,492-3,552 (Rs 3,502-3,561) and M-grade Rs 3,582-3,701 (Rs 3,560- 3,711).

Naka delivery rates: S-grade Rs 3,440-3,460 (Rs 3,440-3,460) and M-grade Rs 3,480-3,650 (Rs 3,480-3,650).