Comments
Sugar prices continued to rule firm at upper level with rise of ₹30-60 for fine variety on Tuesday. Some producers sold the commodity even at higher rates.
On the Vashi wholesale market, routine local demand kept prices for S-grade unchanged, while M-grade rose by ₹4-10 a quintal.
Naka prices were steady. Arrivals at Vashi market were about 64- 65 truckloads (of 100 bags each) and the local dispatches were 63-64 truckloads.
On Monday evening, 18-19 mills offered tenders and sold about 65,000 bags at ₹2,700-2,820 (₹2,650-2,760) for S-grade and ₹2,880-2,980 (₹2,850- 2,940) for M-rade.
Bombay Sugar Merchants Association's spot rates were: S-grade ₹2,860-2,932 (₹2,860-2,932) and M-grade was ₹2,980-3,092 (₹2,976-3,082).
Naka delivery rates were: S-grade ₹2,860-2,950 (₹2,860-2,950) and M-grade ₹2,950-3,060 (₹2,950-3,060).
A Vashi based wholesaler said: “Stockists held back new bulk purchases as mills’ prices are higher and market prices are not matching resulting in disparity.However, all are optimistic about higher demand in coming months as production season ends comes nearer.
On the other hand, producers are not willing to sell at lower prices as prices in Uttar Pradesh ruling higher. The undercurrent of the market remained positive.Buying enquiry from neighbouring States also started increasing in Maharashtra this will lead to a higher demand coming days.”
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.