Commodities

Routine trade holds sugar steady

Our Correspondent Mumbai | Updated on July 09, 2020 Published on July 09, 2020

Sugar market ruled steady for the second consecutive day on routine demand, supply and volumes. Hike in minimum selling price of sugar by ₹200 still remains unclear forcing producers to continue selling the commodity at prevailing rates to ease their stock burden.

Arrivals at the Vashi market were 35-36 truck loads (of 10 tonnes each) and local dispatches, too, were at the same level. Inventories were about 84-85 truck loads. Freight rates were steady at ₹80-100 per bag.

On Wednesday evening, 14-15 mills offer tenders and sold about 34,000-35,000 bags at ₹3,160-3,250 for S-grade and ₹3,260-3,370 for M-grade.

The Bombay Sugar Merchants Association spot rates (₹/quintal): S-grade 3,332-3,382 and M-grade 3,420-3,602. Naka delivery rates (₹/quintal): S-grade 3,310-3,360 and M-grade 3,400-3,500.

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Published on July 09, 2020
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