Agri Business

Sugar in bear grip

Our Correspondent Mumbai | Updated on November 12, 2018 Published on November 12, 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

Sugar market turned bearish on Mondayon higher selling pressure amid reduced demand. At the Vashi wholesale market, spot rates were down by ₹20-25 a quintal, while naka rates dropped by ₹25-40. Freight rates also came down to ₹90-100. Bombay Sugar Merchants Association spot rates: S-grade ₹3,100-3,182 and M-grade ₹3,162-3,472. Naka delivery rates: S-grade ₹3,060-3,150 and M-grade ₹3,120-3,255.

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Published on November 12, 2018
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