Steady trend in sugar market

Our Correspondent Mumbai | Updated on June 22, 2020

The sugar market witnessed a steady trend on Monday. Prices were stable at naka and mill levels.

Producers are holding stocks on the hope of increase in minimum selling price by ₹200, which is currently fixed at ₹3,100 per quintal.

Arrivals at Vashi were 44-45 truckloads and local dispatches were at 40-42 truckloads. Inventories at Vashi were 78-80 truckloads. Freight rates were steady at ₹85-100 a bag.

On Saturday evening, 20-22 mills sold about 58,000-60,000 bags at ₹3,120-3,200 (₹3,120-3,200) of S-grade and ₹3,220-3,300 (₹3,220-3,300) ofM-grade.

The Bombay Sugar Merchants Association's spot rates were (₹/quintal): S-grade 3,310-3,362 (3,300-3,362) and M-grade 3,350-3,562 (3,370-3,552).

Naka delivery rates were (₹/quintal): S-grade 3,280-3,300 (3,280-3,300) and M-grade 3,320-3,390 (3,320-3,390).

Published on June 22, 2020

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