Comments
Sugar prices for fine quality increased by ₹10 a quintal, while the normal variety ruled steady on Wednesday. Naka rates for S-grade were up ₹10 and for M-grade ₹50 on higher demand. Mill tender rates ruled unchanged as producers continued selling at prevailing rates. Ample arrivals and need-based offtake kept sentiment steady, said traders.
Sources said that local retail demand was slightly higher for fine quality. Producers carry sufficient unsold stocks and are continuously selling in the local markets. Export demand also disappeared due to lower price. Traders of Vashi market are having enough stocks on hand hence kept away from building up more inventories.
Arrivals at Vashi market were around 62-63 truckloads (of 100 bags each) and the local dispatches were 61- 62 loads. On Tuesday evening, about 15-17 mills offered tenders and sold 58,000-60,000 bags at ₹2,970-3,130 (₹2,970-3,130) for S-grade and ₹3,120-3,280 (₹3,120-3,280) for M-grade.
Bombay Sugar Merchants Association’s spot rates were: S-grade ₹3,202-3,272 (₹3,192-3,292) and M-grade was ₹3,292-3,472 (₹3,282-3,472). Naka delivery rates were: S-grade ₹3,100-3,160 (₹3,090-3,150) and M-grade ₹3,200-3,350 (₹3,150-3,300).
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.