Commodities

Sugar resumes journey southward

Our Correspondent Mumbai | Updated on December 23, 2011 Published on December 23, 2011

sugar





Sugar prices on the Vashi spot market were down Rs 3-5 on ample supplies on Friday.

Naka and mill tender rates were unchanged despite eased demand. Demand may rise next week because of Christmas. Volume was unchanged on the spot market but lower at the mill level, said a wholesaler.

Local demand is need-based. Local producers focused on the State market as there are no orders from buyers in neighbouring states. Most players are now waiting for the announcement of January's free-sale quota. December's 17-lakh-tonne quota is sufficient for local consumption. Mills still haven't offloaded their allotted quotas. Production is expected at 260 lakh tonnes in 2011-2012.

In Vashi on Thursday, about 15-16 mills offered tenders and sold about 35,000-40,000 bags at Rs 2,800-2,860 (Rs 2,800-2860) for S-grade and Rs 2,870-2,960 (Rs 2,870-2,960) for M-grade. Arrivals in Vashi were at 52-54 truckloads and local dispatches were around 50-52 truckloads. Freight rates were unchanged. Bombay Sugar Merchants Association's spot rates: S-grade — Rs 2,936-3,011 (Rs 2,941-3,020); M-grade — Rs 3,001- 3,102 (Rs 3,006-3,102).

Naka delivery rates: S-grade — Rs 2,885-2,920 (Rs 2,885-2,920); M-grade — Rs 2,975-3,020 (Rs 2,975-3,020).

Published on December 23, 2011
This article is closed for comments.
Please Email the Editor