Ample supplies keep sugar on leash

Our Correspondent Mumbai | Updated on December 02, 2014 Published on December 02, 2014

Sugar prices ruled steady on the Vashi wholesale market with a minor gain of ₹2-5 a quintal for fine quality on need-based routine demand amid ample supply. Naka and mill tender prices were unchanged. Prices in other producing centres ruled at a par with Maharashtra forcing local mills to keep sell tender offers open. Stockists were reluctant to have more inventory as supply is ample, said sources.

Arrivals continued at 62-63 truckloads, while local dispatches were 60-61 loads. On Monday, about 20-21 mills offered tenders and sold 58,000-60,000 bags at ₹2,600-2,700 (₹2,600-2,700) for S-grade and ₹2,710-2,850 (₹2,710-2,850) for M-grade.

The Bombay Sugar Merchants Association’s spot rates: S-grade ₹2,762-2,852 (₹2,752-2,852) and M-grade ₹2,902-3,052 (₹2,900-3,112). Naka delivery rates: S-grade ₹2,700-2,800 (₹2,700-2,800) and M-grade ₹2,800-2,900 (₹2,800-2,900).

Published on December 02, 2014
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