Comments
Spot sugar prices shot up by ₹20-30 a quintal at the mill level on Thursday on higher demand by stockists for forward delivery. On the Vashi wholesale spot market, prices increased by ₹15-20. Naka rates were up by ₹30-70 on the back of higher volume for fourth consecutive day.
Maharashtra’s mills sold more than 90,000-92,000 bags to local traders at higher rates on Wednesday evening with the fine variety being sold at a premium. Freight rates were steady at the higher level. The Vashi market carries about 120 truckloads of inventory but with the onset of summer stockists have started buying more to meet the expected bulk and retailers’ demand.
Arrivals at Vashi market continued at about 61- 62 truckloads (of 100 bags each) and the local dispatches were 59-60 loads. On Wednesday evening, 21-22 mills offered tenders and sold about 90,000-92,000 bags at ₹2,600-2,710 (₹2,580-2,690) for S-grade and ₹2,790-2,880 (₹2,770-2,820) for M-grade.
Bombay Sugar Merchants Association’s spot rates were: S-grade ₹2,780-2,872 (₹2,761-2,855) and M-grade was ₹2,900-3,022 (₹2,892-3,006). Naka delivery rates were: S-grade ₹2,780-2,850 (₹2,710-2,800) and M-grade ₹2,850-2,960 (₹2,820-2,920).
Comments
COMMENT NOW
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.