Comments
Sugar prices ruled almost steady on Monday with fine quality sugar fetching Rs 5-10 a quintal higher, while fair quality lost Rs 4-5. Arrivals and dispatches were balanced and continued selling by producers eased supply.
A wholesaler at the Vashi wholesale market said despite festivals ahead, domestic and bulk consumers demand has not improved. Mills continue to sell at current price level.
There is no big demand for export or from neighboring States. Producers are depending on the State-level markets for volume. Since the last four days, mills tenders rates have ruled almost unchanged.
He further said that due to high food inflation bulk consumer demand for festivals has been affected. Freight rates were steady. The market will move on the basis of demand – supply position with range bound movement.
About 18-20 mills offered tenders on Saturday and sold 80,000-85,000 bags (each 100 kgs) in the range of Rs 2,575-2,615 (Rs 2,575-2,615) for S-grade and Rs 2,630-2,700 (Rs 2,630-2,700) for M-grade. Arrival in the market was 51-52 truckloads (each 100 bags) and dispatches were at the same level.
Bombay Sugar Merchants Association's spot rates: S-grade Rs 2,710-2831 (Rs 2,711-2,810) and M-grade Rs 2,751-2,931 (Rs 2,761-2,921).
Nakadelivery rates: S-grade Rs 2,650-2,700 (Rs 2,660-2690) and M-grade Rs 2,750-2,880 (Rs 2,700-2,870).
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.