Agri Business

Mixed trend in sugar prices

Our Correspondent Mumbai | Updated on September 09, 2020 Published on September 09, 2020

Sugar prices at Vashi rule mix and remain steady mill level on Wednesday on routine activities. As supply from mills remained enough on back of higher quota of 22 lakh tonnes for the month, bulk buyers and retailers stay away from big inventory buying. S- grade sugar decline by ₹10 and M-grade rule steady at Vashi market.

Due to the Covid-19 pandemic, buying capacity has reduced which affected overall business volumes in essential commodities. Even stockiest – traders are staying away except need-based buying. Morale was weak but hope of the government’s announcement in favour of sugar industry from October kept undertone positive, said sources.

Arrivals at Vashi were about 48-50 and truck loads (Each of 10 tonnes) and local dispatches were at 46-48 truck loads. Inventories at Vashi were about 90-95 truck loads. Freight rates were steady ₹85100 per bag. On Tuesday evening about 16-18 mills offered tenders and sold about 44,000–45,000 bags at ₹3,150-3,220 (₹3,150-₹3,220) for S-grade and ₹3,240-3,320 (₹3,2403,320) for M-grade.

On Bombay Sugar Merchants Association’s spot rates (Rs/Quintal): S-grade ₹3,292–3,352 (₹3,300- 3,362) and M-grade ₹3,400–3,512 (₹3,400-3,512).

Naka delivery rates (Rs/Quintal): S-grade ₹3,250-3,320 (₹3,250–3,320) and M-grade ₹3,370–3,420 (₹3,370–3,420).

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Published on September 09, 2020
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