Sugar steadies as inventories weigh

Our Correspondent ¼Mumbai | Updated on September 21, 2020 Published on September 21, 2020

Sugar prices extended a steady trend on Monday. At the Vashi terminal market, prices declined by ₹10-15 a quintal for fair quality, while that of fine – bold variety ruled unchanged.

Naka and mill tender rates were steady as producers continued to sell at prevailing rates to ease surplus burden. Arrivals and local dispatches remained at par with routine volumes in second half of the month. Morale was weak, said sources.

Arrivals were about 42-44 truck loads (of 10 tonnes each) and local dispatches were at 43-44 loads. Inventories at terminal market reach to 100 truck loads. Freight rates were steady at ₹80-100 per bag.

On Saturday evening, about 18-20 mills sold about 58,000-60,000 bags at ₹3,150 –3,220 for S-grade and ₹3,240 – 3,320 for M-grade.

The Bombay Sugar Merchants Association spot rates (₹/quintal): S-grade 3,280 – 3,352 and M-grade 3,372 – 3,502.

Naka delivery rates (₹/quintal): S-grade 3,260 - 3,310 and M-grade 3,360 – 3,410.

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Published on September 21, 2020
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