Sugar drops on slack bulk buying

Updated - January 16, 2018 at 09:01 PM.

Simbhaoli Sugars Ltd. employees work on the production line making sugar cubes in Simbhaoli, India, on Friday, Nov. 27, 2009. Sugar prices rebounded from a six-week low last week in New York as countries including India, the world's largest consumer, increased purchases. Photographer: Pankaj Nangia/Bloomberg

Sugar prices continued their bearish trend at mill and market level on Tuesday as producers sold the commodity at ₹10/quintal on eased bulk demand. At the Vashi market, prices declined further by ₹10-20. Arrivals were at 58-60 truck loads and local dispatches were at 57-58 loads. Inventory at Vashi remained stable at 105-110 loads. Freight rates were steady. The Bombay Sugar Merchants Association’s spot rates: S-grade ₹3,150-3,252 and M-grade ₹3,260-3,532. Naka delivery rates: S-grade ₹3,125-3,300 and M-grade ₹3,170-3,400.

Published on January 16, 2018 15:31