Sugar in bull grip

Our Correspondent Mumbai | Updated on June 17, 2020

Firm trend continued in sugar market on Wednesday. Sugar prices at spot and mill level gained further by ₹10-20 a quintal on higher demand and volumes. Sugar crushing season is almost over with a sharp drop in sugar production this year. Morale was firm, said sources.

Arrivals to the Vashi wholesale market were at 38-40 truck loads (of 10 tonnes each) and local dispatches were at 37-38 loads. Inventories were about 80 truck loads. Freight rates were steady at ₹85-95 per bag.

On Tuesday evening, 19-20 mills offered tenders and sold about 64,000-65,000 bags at ₹3,110-3,190 for S-grade and ₹3,200-3,270 for M-grade.

The Bombay Sugar Merchants Association spot rates (₹/quintal): S-grade 3,290-3,362 and M-grade 3,330-3,552. Naka delivery rates(₹/quintal): S-grade 3,260-3,280 and M-grade 3,300-3,370.

Published on June 17, 2020

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like