Reselling pressure dissolves sugar

Our Correspondent Mumbai | Updated on July 30, 2020

Sugar prices at naka level declined by ₹20-40 a quintal on Thursday on higher reselling and lifting pressure. Spot rates at the Vashi wholesale market and mill tender rates ruled unchanged. Eased demand amid enough supplies kept the morale steady.

Arrivals were at 34-35 truck loads (of 10 tonnes each) and local dispatches were at 32-33 loads. Inventory was about 90 truckloads. Freight rates were stable at ₹85-100 per bag.

On Wednesday evening, 14-15 mills offered tenders and sold about 28,000-30,000 bags at ₹3,150-3,210 for S-grade and ₹3,240-3,310 for M-grade.

The Bombay Sugar Merchants Association spot rates (₹/quintal): S-grade 3,296-3,392 and M-grade 3,410-3,580.

Naka delivery rates (₹/quintal): S-grade 3,230-3,290 and M-grade 3,350-3,400.

Published on July 30, 2020

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