Mixed trend in sugar market

Our Correspondent Mumbai | Updated on April 29, 2014 Published on April 29, 2014

Sugar prices on the Vashi wholesale market were mixed on Tuesday with activities being routine. Naka and mill tender rates were unchanged as demand at the upper level remained weak. In the spot, the fine variety sold ₹8-10 a quintal higher, while lower quality sold ₹10 lower. A Vashi-based wholesaler said that activities were normal as demand eased due to month-end. Arrivals were higher than demand. Prices in other producing centres ruled at a par with Maharashtra, keeping upcountry buying to nearest area and away from here. That is forcing the producers to sell the commodity in local markets. On export front also, the market is bearish. However, all are optimistic about higher offtake due to peak summer season and festivals.

Arrivals at Vashi market were around 61-62 truckloads (of 100 bags each) and the local dispatches were 58-60 loads. On Monday evening, about 21-22 mills offered tenders and sold 85,000-88,000 bags at ₹3,000-3,100 (₹3,000-3,100) for S-grade and ₹3,150-3,320 (₹3,150-3,320) for M-grade.

Bombay Sugar Merchants Association’s spot rates were: S-grade ₹3,202-3,330 (₹3,212-3,312) and M-grade was ₹3,350-3,482 (₹3,346-3,492). 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 29, 2014
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