Range-bound trading in sugar

Our Correspondent Mumbai | Updated on August 24, 2020

Sugar prices at the Vashi wholesale market ruled unchanged tracking weak sentiments at upper level. Naka and mill tender rates were steady on subdued bulk and retail demand. Despite Ganeshotsav going on, prices ruled range-bound on ample supplies. Producers’ selling pressure kept the market sentiments weak, said sources.

Arrivals were about 43-45 truck loads (of 10 tonnes each) and local dispatches were at 41-42 loads. Inventories were about 90-95 truck loads. Freight rates were stable at ₹80-100 per bag.

The Bombay Sugar Merchants Association spot rates (₹/quintal): S-grade 3,282-3,362 and M-grade 3,400-3,512.

Naka delivery rates (₹/quintal): S-grade 3,250-3,320 and M-grade 3,370-3,420.

Published on August 24, 2020

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