Sugar steadies in routine trade

Our Correspondent Mumbai | Updated on September 14, 2020 Published on September 14, 2020

Sugar prices extended a steady trend as demand-supply and volume remained normal. Traders stayed away from building new inventory. At the Vashi spot market, prices were up by ₹5 a quintal for S-grade. M-grade ruled steady.

At naka and mill level, enough supply kept morale steady said sources.

Arrivals were about 47-48 truck loads (each of 10 tonnes) and local dispatches were at 44-45 loads. Inventories at Vashi were about 95-100 truck loads. Freight rates were steady at ₹80-100 per bag.

On Saturday evening, 18-20 mills offered tenders and 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 3,300-3,362 and M-grade 3,386-3,502.

Naka delivery rates (₹/quintal): S-grade 3,245-3,315 and M-grade 3,365-3,415.

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Published on September 14, 2020
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