Selling pressure drags sugar
Sugar prices continued to decline on back of selling pressure from producers. Prices at Vashi dropped further by₹30-40 a quintal in line with lower prices at naka level. At mill level prices declined by ₹20-30. As new arrivals started and mills were keen to ease their old stocks, the undercurrent of the market remained weak. Arrivals at Vashi market were 58-60 truck loads and local dispatches were at 59- 60 truck loads. Freight rates were steady. The Bombay Sugar Merchants Association’s spot rates: (in ₹) S-grade 3,550-3,652 and M-grade 3,640-3,852. Naka delivery rates: (in ₹) S-grade 3,525-3,625 and M-grade ₹3,570-3,625.
Source: thehindubusinessline;Published on 2017-11-20