Comments
Sugar prices shot up by ₹50-90 a quintal at the mill level in Maharashtra on higher demand which pushed up spot prices on the Vashi wholesale market by ₹30-60 and naka level by ₹50-60. The volume at mill and market level remained higher than usual on Tuesday as stockists kept increasing inventories considering that summer has begun. Jagdish Rawal of B. Bhogilal & Co told Business Line: “Continuous buying at mill level at higher price was pushing market up despite need-based retail demand. On hopes of higher retail and bulk demand during April-May, stockists are building inventory. Crushing season and exports will also end soon, thus pushing prices up further .”
Arrivals at Vashi market were around 63-64 truckloads (of 100 bags each) and the local dispatches were 60-61 loads. On Monday, 20-22 mills offered tenders and sold 78,000-80,000 bags at ₹3,090-3,150 (₹3,000-3,060) for S-grade and ₹3,140-3,320 (₹3,100-3,230) for M-grade.
Bombay Sugar Merchants Association’s spot rates were: S-grade ₹3,202-3,375 (₹3,142-3,360) and M-grade was ₹3,342-3,502 (₹3,292-3,472). Naka delivery rates were: S-grade ₹3,190-3,260 (₹3,130-3,200) and M-grade ₹3,260-3,400 (₹3,250-3,350).
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.