Agri Business

Sugar prices see rise

Our Correspondent Mumbai | Updated on October 08, 2020

Sugar prices at Vashi recovered on Thursday, erasing previous days lose on ease selling. Spot rates went up by ₹10-15 a quintal. Surplus stocks at the production level continue to weigh keeping prices steady at the lower level. With routine demand, supply and volumes sentiments remained weak. Market is hovering at near parity of minimum selling price at ₹3,100-level sources said.

Arrivals at Vashi were about 38-40 truckloads (each of 10 tonnes) and local dispatches were 36-37 truckloads. On Wednesday evening, 16-18 mills offered tenders and sold about 38,000-40,000 bags at ₹3,110-Rs3,170 (₹3,110-3,170) for S-grade and ₹3,200-3,270 (₹3,200-3,270) for M-grade.

Bombay Sugar Merchants Association’s spot rates (₹/quintal): S-grade ₹3,260-3,334 (₹3,2503,322) and M-grade ₹3,362-Rs 3,466 (₹3,352-3,486).

Naka delivery rates (₹/quintal): S-grade ₹3,210-3,260 (₹3,2103,260) and M-grade ₹3,2903,360 (₹3,2903,360).

Published on October 08, 2020

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