Sugar prices at upper naka and mill level rule steady on Friday on routine volumes. At Vashi spot rates were down by ₹5-10 for S-grade as thin quality sold at lower rates.
Usual demand for bold quality kept its prices unchanged. After continuous rain, local demand and dispatches improve slightly but selling pressure mill level kept morale weak said sources.
Industry sources said despite two months long lock down in April – May the consumption and exports of sugar in current season year showed good achievement. Consumption will be 255 lakh tonnes similar to last year.
Exports for the year will be around 60 lakh tonnes. Government announced ₹200 increase in minimum selling price to ₹3,300 per quintal from October 1 but industry is hopeful that the same will be implemented early said industry sources.
Bombay Sugar Merchants Association’s spot rates (Rs./Quintal): S-grade ₹3,306–3,382 (₹3,310- 3,400) and M-grade ₹3,410–3,600 (₹3,410-3,600).
Naka delivery rates (Rs./Quintal): S-grade ₹3,250-3,310 ₹3,250–3,310) and M-grade ₹3,370–3,420 (₹3,370–3,420).
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