Comments
Sugar prices on the domestic futures market extended loss by ₹27 for August and ₹12 for September contracts on Monday, while ruling steady on spot markets. The Vashi wholesale market was closed for Janmashtami . There were no loading or unloading in the market. At the upper mill level, the sentiment was steady. On Saturday evening, few mills offered tender but in the absence of buyer’s response they kept the tenders offer open. Sources said that as supply is ample and the market witnessed need-based volume since the start of this month. Ample stocks kept stockists away from bulk buying. Retailers offtake remained higher last week but ample supply kept pressure on prices. World market prices are ruling lower in the range of $430-$450 a tonne and the chances of Indian exports are very bleak.
On Saturday evening hardly four-five mills offered sale tenders and due to poor demand they kept it open. Tender rates were steady at ₹2,920-3,010 (₹2,920-3,010) for S-grade and ₹3,040-₹3,160 (₹3,040-3,160) for M-grade.
On National Commodities and Derivatives Exchange, August -14 futures declined by ₹27 to ₹3,106 (₹3,133) and September -14 was down by ₹12 to ₹3,085 (₹3,097).
Nominal Spot rates in Mumbai were: S-grade ₹3,080-3,190 (₹3,084-3,195) and M-grade was ₹3,220-3,380 (₹3,206-3,372).
Naka delivery rates were: S-grade ₹3,040-3,130 (₹3,040-3,130) and M-grade ₹3,150-3,280 (₹3,150-3,280).
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.