Sugar steadies on continuous selling

Our Correspondent Mumbai | Updated on July 23, 2020

Sugar prices at the Vashi wholesale market firmed up by ₹8-10 a quintal tracking eased selling at naka level. But continuous selling by mills kept the sugar tender rates steady. Demand remained limited.

Arrivals were at 40-42 and truck loads (of 10 tonnes each) and local dispatches, too, were at the same level. Inventory was about 90-95 truck loads. Freight rates were hovering near ₹85-100 per bag.

On Wednesday evening, 18-20 mills offered tenders and sold about 44,000-45,000 bags at ₹3,150-3,250 for S-grade and ₹3,240-3,330 for M-grade.

The Bombay Sugar Merchants Association spot rates (₹/quintal): S-grade 3,322-3,382 and M-grade 3,410-3,622.

Naka delivery rates (₹/quintal): S-grade 3,250-3,320 and M-grade 3,410-3,460.

Published on July 23, 2020

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