Routine trade holds sugar steady

Our Correspondent Mumbai | Updated on July 21, 2020

Routine demand, sufficient supplies and continuous selling by mills kept sugar prices steady for the fourth consecutive day. Local dispatches were lower than arrivals increasing inventory at the Vashi wholesale market.

Arrivals were at 42-43 truck loads (of 10 tonnes each) and local dispatches were at 39-40 loads. Inventory increased to about 90- 95 truck loads. Freight rates were at ₹85-100 per bag.

On Monday evening, 18-20 mills offered tenders and sold about 40,000-41,000 bags at ₹3,150-3,250 for S-grade and ₹3,260-3,350 for M-grade.

The Bombay Sugar Merchants Association spot rates (₹/quintal): S-grade 3,322-3,382 and M-grade 3,410-3,602. Naka delivery rates (₹/quintal): S-grade 3,250-3,320 and M-grade 3,410-3,460.

Published on July 21, 2020

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