Agri Business

Sugar rules steady

CK Jani Mumbai | Updated on July 17, 2020

Sugar price at naka level crashed by ₹50-80 per quintal on Friday on increase in liquidating pressure for old fair quality stocks. This also impacted the price of new stocks by ₹10. Mill tender rates and spot rates at Vashi remained stable due to subdued demand. Routine activities kept morale weak. Heavy surplus stocks with produce kept supply sufficient and prices under check, said sources.

Arrivals at Vashi were 38–40 and truck loads (Each of 10 tonnes) and local dispatches were at 36–38 truck loads. Inventory at Vashi was about 85-90 truck loads. Freight rates were steady at ₹80–100 per bag.

On Thursday evening, 20–22 mills offer tenders and sold about 48,000–50,000 bags at ₹3,150–3,250 (₹3,150–3,250) for S-grade and ₹3,260–3,350 (₹3,260–3,350) for M-grade. Old stock was offered at heavy discount. On Bombay Sugar Merchants Association’s spot rates were (₹/Quintal): S-grade at ₹3,322–3,382 (₹3,332- 3,382) and M-grade ₹3,410–3,600 (₹3,410- 3,600). Naka delivery rates were (₹/Quintal): S-grade ₹3,250-3,330 (₹3,310–3,380) and M-grade ₹3,330–3,430 (₹3,410–3,480).

Published on July 17, 2020

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