Increased volume lifts sugar prices

Our Correspondent Mumbai | Updated on June 08, 2020

Increased volume at mill level lifted sugar prices at naka level by ₹10 on Monday while local demand kept spot rates unchanged. Producers sold more than double the quantity at a steady price. With the lifting of lockdown, morale was firm, sources said.

Arrivals at Vashi increased to 28-30 truckloads and local dispatches were at 25-26 truckloads. Inventory at Vashi went up to 75-80 truckloads. Freight rates were steady at ₹80-100 per bag.

On Saturday evening, 18-20 mills sold 58,000-60,000 bags at ₹3,110-3,170 (₹3,100-3,170) of S-grade and ₹3,160-3,230 (₹3,150-3,230) of M-grade.

The Bombay Sugar Merchants Association's spot rates (₹/quintal): S-grade 3,250-3,342 (3,250-3,352) and M-grade 3,330-3,490 (3,330-3,490).

Naka delivery rates (₹./quintal): S-grade 3,210-3,250 (3,200-3,240) and M-grade 3,240-3,350 (3,230-3,340)..

Published on June 08, 2020

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