Bears corner sugar market

Higher reselling and selling pressure for delivery orders amid producers selling at lower rates kept the sugar market bearish on Wednesday. On Tuesday about 16 mills sold 44,000-45,000 bags at lower rates ₹2,980-3,060 for S-grade and ₹3,060-3,180 for M-grade. Naka delivery rates were: S-grade ₹3,120– 3,230 and M-grade ₹3,170-3,330.

Source: Business Line – Published on: 13/06/2018