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Sugar market rule flat all level on Friday on back of routine demand, supply and volume. Neither producers were not very keen to sell lower rates and nor stockiest were interested to have fresh bulk buys at premium keeping activities need base at mill and market level.
Considering inventory stock of about 110 – 115 truck loads at Vashi and ease local retail demand – dispatches traders prefer to have safe game. Morale was steady all are now eying for new month demand. With normal activities volatility in the market remained thin since last 8 – 10 days said sources.
On Thursday evening about 13- 14 mills offered tenders and sold about 24,000 – 25,000 bags at Rs 3830- Rs3900 (Rs3830 – Rs3900) for S-grade and Rs3900 – Rs3960 (Rs3900 - Rs3960) for M-grade. Expecting lower production and higher demand coming months producers held back selling commodity lower price.
On NCDEX priced for March-17 contract was down by Rs7 to Rs3865 (Rs3872) till noon.
On Bombay Sugar Merchants Association's spot rates were: S-grade Rs 3,926- Rs3,996 (Rs 3,926 - Rs 3,995) and M-grade was Rs 4,000 – Rs 4,256 (Rs 4,010– Rs 4,256).
Naka delivery rates were: S-grade Rs 3,900 – 3,950 (Rs 3,900 – Rs 3,950) and M-grade Rs 3,970– 4,040 (Rs 3,970 – 4,040).
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