Comments
Bearish trend continued in sugar market on Tuesday. At the Vashi wholesale market, prices dropped by ₹5-10 a quintal, tracking weak trend at upper naka and mill level. Naka rates extended losses further by losing ₹40 in just two days on higher resale pressure.
Arrivals were about 33-35 truck loads (of 10 tonnes each) and local dispatches were at the same level. At Vashi, inventory was about 100-110 truck loads. Freight rates were also stable at ₹80-100 per bag.
On Monday evening, 20-22 mills offered tenders and sold about 45,000 – 48,000 bags at ₹3,100-3,180 for S-grade and ₹3,170-3,240 for M-grade.
The Bombay Sugar Merchants Association spot rates (₹/quintal): S-grade 3,246-3,302 and M-grade 3,310-3,462.
Naka delivery rates (₹/quintal): S-grade 3,170-3,220 and M-grade 3,230-3,320.
Comments
COMMENT NOW
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.