Bulk buyers stay away from sugar market

Our Correspondent Mumbai | Updated on April 30, 2014 Published on April 30, 2014

Sugar prices on the Vashi wholesale market ruled steady on Wednesday on usual supply and demand. Traders sold fair quality ₹10 lower to retailers but overall the sentiment remained calm. Local offtake was higher than arrivals as market will remain closed on Thursday. Naka and mill tender rates were unchanged on routine volume. Prices in other producing centres rule at par with Maharashtra’s parity keeping upcountry buying to nearest area. The Vashi market carries over 115 truckloads of stocks hence stockists are shying away from bulk buyingArrivals at Vashi market were around 64-65 truckloads (of 100 bags each) and the local dispatches were 63-64 loads. On Tuesday evening, about 19-20 mills offered tenders and sold 60,000-65,000 bags at steady level ₹3,000-3,100 for S-grade and ₹3,150-3,320 for M-grade.

Bombay Sugar Merchants Association's spot rates were: S-grade ₹3,192-3,330 (₹3,202-3,330) and M-grade was ₹3,332-3,482 (₹3,350-3,482). Naka delivery rates were: S-grade ₹3,150-3,250 (₹3,150-3,250) and M-grade ₹3,252-3,350 (₹3,252-3,350).

Published on April 30, 2014
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