Surplus stocks continue to weigh on sugar market keeping the prices under pressure. On Monday, prices at the Vashi wholesale market declined by ₹10-20 a quintal on subdued demand. Naka rates dropped by ₹20 on higher reselling. Seeing limited bulk demand producers sold the commodity at ₹10 lower.
Arrivals were about 34-35 truckloads (Each of 10 tonnes) and local dispatches were at 32-34 truckloads. On Saturday, about 16-18 mills offered tenders and sold about 38,000 – 40,000 bags at ₹3,100-3,170 for S-grade and ₹3,170-3,250 for M-grade.
The Bombay Sugar Merchants Association spot rates (₹/quintal): S-grade 3,252-3,302 and M-grade 3,320-3,462. Naka delivery rates (₹/quintal): S-grade 3,190-3,240 and M-grade 3,250-3,340.
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.