Sugar prices at Vashi rule steady with minor changes on routine demand – supply on Tuesday. Thin volatility was also seen in naka trade. Mills tender prices were steady as they continued selling prevailing rates.

Freight rates and market stock level remained stable. Local dispatches were slightly less than arrivals keeping morale cautious and steady. Slow progress in crushing activities and tight money position / crisis for payment after demonetisation of big value notes kept activities need base at all level said sources.

Arrivals at Vashi were about 61-62 truck loads and local dispatches were about 58-60 truck loads. On Monday evening 14 – 15 mills offered tenders and sold about 38,000 – 40,000 bags at Rs. 3400 - Rs3500 (Rs3400 – Rs3500) for S-grade and Rs3520 – Rs3620 (Rs3520 - Rs3620) for M-grade.

On NCDEX futures prices went up by Rs60-Rs80 till noon on speculative buying. Prices for Dec-16 was jumped to Rs3449 (Rs3370) and March-17 increased to Rs3648 (Rs3587).

On Bombay Sugar Merchants Association's spot rates were: S-grade Rs. 3,586- Rs. 3,672 (Rs 3,592 - Rs. 3,825) and M-grade was Rs. 3,680– Rs. 3,952 (Rs 3,682 – Rs. 3,936).

Naka delivery rates were: S-grade Rs. 3,540 – 3,610 (Rs 3,530 – Rs. 3,620) and M-grade Rs.3,630– 3,710 (Rs 3,610 – 3,700).