Commodities

Sugar turns sour on selling pressure

Our Correspondent Mumbai | Updated on January 19, 2018 Published on February 05, 2016

Sugar market witnessed a bearish trend on Friday on back of slack demand amid higher reselling pressure. Prices on the Vashi spot market declined by ₹10-15 a quintal while at naka level it dropped by ₹10-40Retail demand remained need-based keeping stockists away from bulk buys. Mill tender rates eased by ₹10-20. Arrivals to the Vashi market declined to 60-61 truck loads while local dispatches were at 58-60 loads. On Thursday, about 9-10 mills offered tenders and sold about 23,000-25,000 bags at ₹3,000-3,080 (3,010-3,100) for S-grade and ₹3,090-3,180 (3,100-3,200) for M-grade.

The Bombay Sugar Merchants Association’s spot rates: S-grade ₹3,120-3,232 (3,130-3,232) and M-grade was ₹3,186-3,402 (3,192-3,402). Naka delivery rates: S-grade ₹3,090-3,150 (3,120-3,160) and M-grade ₹3,160-3,240 (3,200-3,250).

Published on February 05, 2016
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