Commodities

Sugar market stays flat

Our Correspondent Mumbai | Updated on June 10, 2020 Published on June 10, 2020

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).

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

Published on June 10, 2020
This article is closed for comments.
Please Email the Editor