Sugar prices decline

Our Correspondent Mumbai | Updated on February 17, 2020 Published on February 17, 2020

Sugar prices at Vashi declined for fair quality and stayed unchanged for fine-bold variety on Monday. Mill tender and naka rates remained range-bound. Inventory stock burden continue to weigh on producers, forcing them to sell prevailing rates.

Freight rates were steady at ₹75-100 per quintal. Inventory at Vashi was estimated at 110-115 truck loads. Market remained steady on need base-limited demand and volumes said sources.

On Saturday, only 14-15 mills offered tenders and sold about 34,000-35,000 bags at ₹3,100-3,220 a quintal of S-grade and ₹3,220-3,380 of M-grade. Arrivals at Vashi were 60-62 truckloads and local dispatches were at same level.

Bombay Sugar Merchants Association's spot rates : S-grade ₹3,212-3,400 and M-grade ₹3,342-3,602.

Naka delivery rates : S-grade ₹3,215-3,295 and M- grade ₹3,285-3,485.

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Published on February 17, 2020
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