Mixed trend in sugar market

Our Correspondent Mumbai | Updated on February 28, 2020

Uttar Pradesh and Maharashtra together share 66 per cent of sugar production.

Sugar prices at Vashi increased by ₹5 for S-grade and ruled steady for M-grade on Friday. Month-nd lifting pressure on traders and surplus stock burden on mills pulled down naka rates by ₹10. Mill tender rates ruled unchanged at the bottom level. Activities were limited, keeping sentiments steady, sources said.

Arrivals and local dispatches remained at par at 58-60 truckloads. Freight rates were steady at ₹80-110 per quintal. Inventory at Vashi market was about 115-120 truck loads. All were waiting for announcement of March-20 quota.

On Thursday, 19-20 mills sold 54,000-55,000 bags at steady level ₹3,100-3,220 a quintal of S-grade and ₹3,220-3,380 of M-grade.

The Bombay Sugar Merchants Association's spot rates: S-grade ₹3,252-3,392 and M-grade ₹3,352- 3,592.

Naka delivery rates: S-grade ₹3,195-3,275 and M- grade ₹3,265-3,475.

Published on February 28, 2020

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