Sugar rules steady on robust trade

Our Bureau Mumbai | Updated on March 12, 2018 Published on January 31, 2011


Spot sugar prices on the Vashi wholesale market ruled steady on Monday with buying and selling remaining at nominal levels. Retail buying witnessed at the beginning of a new month lent support. The Centre on Monday declared 16.23 lakh tonnes of sugar as free sale quota for February.

Spot sugar prices were down Rs 5 in M-grade. Naka prices due to resale selling declined Rs 10-20. The February free sale quota of 16.23 lakh tonnes includes 13 lakh tonnes as normal, 0.23 lakh tonnes as sugar processed from imported raw sugar and 3 lakh tonnes of carry forward from January. With the start of new month and expected fresh retail demand, freight rates firmed up by Rs 5 a quintal in some producing areas. On Saturday evening, about 12/14 mills floated tender offers and sold about 35,000-38,000 bags of sugar in the range of Rs 2,710-2,750 for S-grade and Rs 2,740-2,790 for M-grade a quintals. Arrivals in the markets for two days were about 48-50 truckloads (each 100 bags) and local dispatches were about 52-53 truckloads. The Bombay Sugar Merchants Association rates were: Spot S-grade Rs 2,850-2,871 (Rs 2,850-2,876) and M grade Rs 2,872-2,931 (Rs 2,886-2,931). Naka delivery rates: S-grade Rs 2,790-2,820 (Rs 2,810-2830) and M-grade was Rs 2,820-2,880 (Rs 2,850-2,880).

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Published on January 31, 2011
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