Range bound trade in sugar
MUMBAI: Sugar prices seems to be remained range bound / steady during pick festivals times if you see the market trend from the beginning of the month due to timely taken steps by governments like permission for imports and stock limits on producers which could make supply ease in the markets.
Arrivals at Vashi market was about 60 truck loads and local dispatches was about 58 truck loads. On Wednesday evening 18 mills offered tenders and sold about 37,000 bags ₹3,580-3,620 (3,590 – 3,630) for S-grade and ₹3,640-3,730 (3,650-3,730) for M-grade.
On Bombay Sugar Merchants Association’s spot rates were:(in ₹) S-grade 3,700-3,802 (3,700-3,800) and M-grade 3,782 – 3,972 (3,782 – 3,972).
Naka delivery rates were: (in ₹) S-grade 3,630 – 3,740 (3,630 – 3,740) and M-grades 3,740 – 3,840 (3,740 – 3,840).
Source: The Hindu Business Line; Published on: 14/09/2017