Sugar stays flat

Our Correspondent Mumbai | Updated on August 27, 2020

Sugar prices at the Vashi wholesale market ruled unchanged on Thursday except ₹10 rise in S-grade on the lower side. Naka and mill tender rates were steady on need-based bulk demand. Mills are carrying high surplus stocks which forced producers to sell their stocks continuously. Routine volume in spot market kept the morale weak, said sources.

Arrivals were about 44-45 truck loads (of 10 tonnes each) and local dispatches, too, were at the same level. Inventories at Vashi were about 90-95 truck loads. Freight rates were stable at ₹80-100 per bag.

On Wednesday, about 17-18 mills offered tenders and sold about 58,000-60,000 bags at ₹3,150-3,220 for S-grade and ₹3,250-3,320 for M-grade.

The Bombay Sugar Merchants Association spot rates (₹/quintal): S-grade 3,292-3,382 and M-grade 3,400-3,512. Naka delivery rates (₹/quintal): S-grade 3,250-3,320 and M-grade 3,370-3,420.

Published on August 27, 2020

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