Sugar rises on renewed demand

Our Correspondent Mumbai | Updated on July 03, 2020 Published on July 03, 2020

Sugar prices at the Vashi wholesale market inched up by ₹10-40 a quintal on Friday. Renewed bulk demand at mill level encouraged producers to sell the commodity at ₹10-20 higher which ultimately lifted sentiments in spot markets. Naka rates also went up by ₹15-20, said sources.

Arrivals were at 36-38 truck loads (of 10 tonnes each) and local dispatches, too, were at the same level. Inventories stood at 80- 85 loads. Freight rates were steady at ₹80-100 per bag.

On Thursday evening, 18-20 mills offered tenders and sold about 58,000-60,000 bags at ₹3,130-3,220 for S-grade and ₹3,230-3,340 for M-grade.

The Bombay Sugar Merchants Association spot rates (₹/quintal): S-grade 3,296-3,362 and M-grade 3,390-3,602. Naka delivery rates (₹/quintal): S-grade 3,260-3,300 and M-grade 3,360-3,450.

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Published on July 03, 2020
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