Agri Business

Bearish trend in sugar market

Our Correspondent Mumbai | Updated on November 01, 2018 Published on November 01, 2018

Simbhaoli Sugars Ltd. employees work on the production line making sugar cubes in Simbhaoli, India, on Friday, Nov. 27, 2009. Sugar prices rebounded from a six-week low last week in New York as countries including India, the world's largest consumer, increased purchases. Photographer: Pankaj Nangia/Bloomberg   -  Bloomberg

More than enough sell quota for the month of November turned sugar market bearish on Thursday. On Wednesday 18-20 mills sold 54,000-55,000 bags at ₹3,000-3,100 of S-grade and ₹3,080–3,160 of M-grade. But after announcement of quota they were quoting ₹20-30 lower. Bombay Sugar Merchants Association spot rates : S-grade ₹3,166-3,250 and M-grade ₹3,262-3,502. Naka delivery rates : S-grade ₹3,070-3,150 and M-grade ₹3,120-3,250

Published on November 01, 2018
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