Comments
Sugar market ruled flat on Wednesday on limited demand. Adequate supply from producers kept the market range-bound and steady.
On lower side, ₹3,100 minimum selling price (MSP) fixed by the government offered support. Talk of possible increase in MSP by ₹200 also boosted sentiments. At Vashi, arrivals and local dispatches were at par, said sources.
Arrivals at Vashi increased to 38-40 truckloads and local dispatches were at same level. Inventories at Vashi increased to 84-85 truckloads. Freight rates were steady at ₹85-100 per bag. On Tuesday evening, 18-20 mills sold 35,000-36,000 bags at ₹3,110-3,170 (₹3,110-3,170) ofS-grade and ₹3,160-3,230 (3,160-3,230) of M-grade.
The Bombay Sugar Merchants Association's spot rates (₹./quintal): S-grade 3,250-3,322 (3,260-3,322) and M-grade 3,340-3,502(3,330- 3,490). Naka delivery rates were (₹./quintal): S-grade 3,210-3,250 (3,210-3,250) and M-grade 3,240-3,350 (3,240-3,350).
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.