Sugar steadies up in routine trade

Our Correspondent Mumbai | Updated on September 17, 2020 Published on September 17, 2020

Sugar prices ruled steady on Thursday. At the Vashi terminal market, prices of S-grade gained ₹5-10 a quintal erasing previous day’s loss. M-grade ruled unchanged.

Naka and mill tender rates were steady as producers continued selling at prevailing rates to ease off surplus burden. Arrivals and local dispatches remained at par with routine volumes. Morale was weak, said sources.

Arrivals at Vashi were about 44 – 45 truck loads (of 10 tonnes each) and local dispatches were at 43 – 44 loads. Inventories at terminal market were about 95- 100 truck loads. Freight rates were steady at ₹80-100 per bag.

On Wednesday evening, about 18 – 20 mills sold about 48,000 – 50,000 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 3,292 – 3,352 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 17, 2020
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