Sugar steadies on hopes of MSP hike

Our Correspondent Mumbai | Updated on July 02, 2020 Published on July 02, 2020

Sugar prices at the Vashi wholesale market ruled flat tracking steady trend at mill level on Thursday. Naka rates were up by ₹15 a quintal on expectation of possible rise in minimum selling prices by ₹200 to ₹3,300 per quintal.

Arrivals were at 34-35 truck loads (of 10 tonnes each) and local dispatches, too, were at the same level. Inventories increased to about 80-85 truck loads. Freight rates were steady at ₹80-100 per bag.

On Wednesday evening, 14-15 mills offered tenders and sold about 18,000-20,000 bags at ₹3,120-3,220 for S-grade and ₹3,220-3,320 for M-grade.

The Bombay Sugar Merchants Association spot rates (₹/quintal): S-grade 3,290-3,350 and M-grade ₹3,370-3,560. Naka delivery rates (₹/quintal): S-grade 3,235-3,305 and M-grade 3,335-3,415.

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Published on July 02, 2020
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