Agri Business

Sugar rules flat

C. K. Jani Mumbai | Updated on August 31, 2020

Sugar prices at all level ruled flat on Monday. This was on expectation of higher quota for peak festivals month -- September. At Vashi ready and naka rates were ₹3-₹5 higher – lower as per need. Mills continued selling commodity prevailing rates.  

For August – 20 quota was 20.50 lakh tons and considering Navaratri and Dashera festivals traders were expecting 21-22 lakh tones for the September. At the time of writing report quota in noon was not declared. All were eagerly waiting for that with cautious mood keeping morale steady said sources.      

Arrivals at Vashi were about 43-44 and truck loads (10 tons each) and local dispatches 44-45 truck loads. Inventories at Vashi were about 95-100 truck loads. Freight rates were stable at ₹80–₹100 per bag.             

On Saturday, about 17-18 mills offered tenders and sold about 48,000–50,000 bags at ₹3,150 – ₹3,220 (₹3,150 – ₹3,220) for S-grade and ₹3,250–₹3,320 (₹3,250–₹3320) for M-grade.               

On Bombay Sugar Merchants Association's spot rates (Rs/Quintal):       

S-grade ₹3,306–₹3,362 (₹3,306-₹3,362) and M-grade ₹3,402–₹3,512 (₹3,402-₹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).     

Published on August 31, 2020

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