Commodities

Retail buying boosts sugar

Our Correspondent Mumbai | Updated on August 26, 2020

Sugar prices at the Vashi wholesale market increased by ₹2-10 a quintal on retail demand support amid higher local dispatches. Naka and mill tender rates ruled unchanged tracking selling sentiments producing level. Subdued bulk demand and volume despite Ganeshotsav kept morale steady, said sources.

Arrivals at Vashi were about 44-45 truck loads (of 10 tonnes each) and local dispatches were at the same level. Inventories were about 90-95 truck loads. Freight rates were ruling between ₹80 and ₹100 per bag.

On Tuesday evening, about 17-18 mills offered tenders and sold about 68,000-70,000 bags at ₹3,150-3,220 for S-grade and ₹3,250-3,320 for M-grade.

The Bombay Sugar Merchants Association spot rates (₹/quintal): S-grade 3,282-3,382 and M-grade 3,402-3,512. Naka delivery rates (₹/quintal): S-grade 3,250- 3,320 and M-grade 3,370-3,420.

Published on August 26, 2020

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