Range-bound trading in sugar

Our Correspondent Mumbai | Updated on June 26, 2020

Month-end lifting pressure on stockists amid eased demand kept sugar prices at the Vashi wholesale market and mill level range-bound on Friday. Prices were ₹4-5 higher/lower as per quality.

Naka rates were steady. Good export demand and hopes on festival season kept the morale firm, said sources.

Arrivals at Vashi were 40-42 truck loads (of 10 tonnes each) and local dispatches were at 38-40 loads. Inventories were about 84-85 truck loads. Freight rates were steady at ₹80-100 per bag.

On Thursday evening, 16-18 mills offered tenders and sold about 38,000-40,000 bags at ₹3,130-3,220 for S-grade and ₹3,220-3,320 for M-grade.

The Bombay Sugar Merchants Association spot rates (₹/quintal): S-grade 3,290-3,362 and M-grade 3,370-3,552. Naka delivery rates (₹/quintal): S-grade 3,280-3,300 and M-grade 3,320-3,390.

Published on June 26, 2020

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