High supplies drag sugar

Our Correspondent Mumbai | Updated on January 24, 2018

Sugar prices on the Vashi market extended further loss by ₹10-20 a quintal on back of abundant supply amid limited demand. Naka rates were steady while mills sold the commodity at ₹10-20 lower to get rid of heavy surplus. As Vashi market carries about 110-115 truck loads, stockists stayed away from building up new inventory. Arrivals were at 60-61 truck loads and local dispatches were about 58-60 loads. On Wednesday evening, about 19-20 mills offered tenders and sold about 38,000-40,000 bags at ₹2,190-2,350 (2,200-2,370) for S-grade and ₹2,290-2,470 (2,300-2,470) for M-grade.

The Bombay Sugar Merchants Association’s spot rates: S-grade ₹2,362-2,540 (2,386-2,551) and M-grade ₹2,472-2,696 (2,482-2,702). Naka delivery rates: S-grade ₹2,310-2,410 (2,310-2,410) and M-grade ₹2,430-2,600 (2,430-2,600).

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Published on June 04, 2015
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