Commodities

Sugar prices rule steady at Vashi

C. K. Jani Mumbai | Updated on January 11, 2018 Published on July 29, 2017

sugar_3097036g

Sugar prices at Vashi ruled steady on Friday with the S-grade gaining by Rs 5-Rs 10 and the M-grade remaining stable. Naka and mill tender rates were also unchanged with little volatility on ample supply and limited need-based wholesale demand. Freight rates were steady. With routine activities, morale remained calm, said sources.

Despite the festival month of August knocking at the door, bulk and retailer demand remained normal, the sources aid. Other side producers also continued selling at prevailing prices as the government has directed industry to maintain sufficient supply and stable prices during the festival months. This indicates that the Centre is keeping a close eye on price volatility and would take the necessary steps to avoid any distortion in supply and prices.

Arrivals at the Vashi market were 62–64 truck-loads and local dispatches were at 59-60 truck-loads. On Thursday evening 15–16 mills offered tenders and sold about 38,000–40,000 bags at Rs 3,590- Rs 3,640 (Rs 3,580 – Rs 3,640) for the S-grade and Rs 3,660–Rs 3,740 (Rs 3,660-Rs 3,750) for M-grade.

Bombay Sugar Merchants' Association's spot rates were: S-grade Rs 3,722-Rs 3,802 (Rs 3,700–Rs 3,800) and M-grade Rs 3,760–Rs 4,005 (Rs 3,760–Rs 4,006).

Naka delivery rates were: S-grade Rs 3,667–3,752 (Rs 3,667 - Rs 3,752) and M-grade Rs 3,724–3,848 (Rs 3,724–Rs 3,848).

Published on July 29, 2017
This article is closed for comments.
Please Email the Editor