Sugar steadies in range-bound trading

Our Correspondent Mumbai | Updated on October 31, 2019 Published on October 31, 2019

Sugar prices ruled steady at the Vashi wholesale market on Thursday as traders expect announcement of November month’s quota. Prices for S-grade fair quality declined by ₹10 a quintal. Prices at naka and mill level remained range-bound. Inventory at Vashi remained stable at 110-115 truckloads keeping wholesalers away from fresh inventory buying. Freight rates, too, were stable at ₹80-100 a quintal.

Arrivals were at 58-60 truck loads and local dispatches, too, were at the same level. On Wednesday evening, due to lack of demand, hardly 10-12 mills sold 24,000-25,000 bags at ₹3,120-3,220 for S-grade and at ₹3240-3,400 for M-grade.

The Bombay Sugar Merchants Association spot rates: S-grade ₹3,232-3,402 (₹3,242-3,412) and M-grade ₹3,452-3,572 (₹3,452-3,570). Naka delivery rates: S-grade ₹3,230-3,340 (₹3,200-3,340) and M-grade ₹3,330-3,515 (₹3,310-3,515).

Published on October 31, 2019
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