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Mixed trend in sugar

Our Correspondent
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Sugar prices on the Vashi market witnessed mixed trend on Friday on routine activities as mills continued selling due to year ending in March.

Spot rates dropped by Rs 10-15 on limited retailers’ demand.

Naka rates improved by Rs 5-10 while on the higher side dropped by same margin.

Mill tender rates ruled steady for seventh consecutive day.

Need-based buying kept morale calm, said sources.

A wholesaler said, “In local market, ample dispatches from producers led to huge stocks .

Due to the year-ending in March bulk business remained subdued. Consumer – retailer’s demand also eased.”

On the NCDEX, sugar April futures declined to Rs 3,034 (Rs 3,050), May contracts dropped to Rs 3,085 (Rs 3,103) and June was lower at Rs 3,173 (Rs 3,193) till noon.

In Vashi market, arrivals were 62-63 truck loads (each of 100 bags) and local dispatches were 61-62 truck loads.

On Thursday evening, about 16-17 mills sold 57,000-58,000 bags to local traders at Rs 3,000-3,060 (Rs 3,000-3,060) for S-grade and Rs 3,100-3,200 (Rs 3,100 - 3,200) for M-grade.

Bombay Sugar Merchants Association's spot rates: S-grade Rs 3,142-3,221 (Rs 3,142-3,236) and M-grade Rs 3,226-3,411 (Rs 3,236- 3,421). Naka delivery rates: S-grade Rs 3,100-3,140 (Rs 3,095-3,150) and M-grade Rs 3,180-3,300 (Rs 3,160-3,305).

(This article was published on March 15, 2013)
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