Sugar steadies ahead of festival demand

Our Correspondent Mumbai | Updated on July 20, 2020

Sugar prices ruled steady on Monday at the Vashi wholesale market despite renewed demand ahead of festivals. Loaded with surplus stocks, producers kept selling the commodity at prevailing rates.

Arrivals were at 42-44 and truck loads (of 10 tonnes each) and local dispatches were at 40-42 loads. Inventory at Vashi was about 88-90 truck loads. Freight rates were steady at ₹80-100 per bag.

On Saturday evening, 21-22 mills offered tenders and sold about 44,000-45,000 bags at ₹3,150-3,250 for S-grade and ₹3,260-3,350 for M-grade. Mills were keen to sell old fair quality stock at lower rates.

The Bombay Sugar Merchants Association spot rates (₹/quintal): S-grade 3,322-3,382 and M-grade 3,410-3,602. Naka delivery rates (₹/quintal): S-grade 3,250-3,330 and M-grade 3,410-3,460.

Published on July 20, 2020

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