Sugar declines on selling pressure
Sugar prices at Vashi declined by ₹10-15 on Friday due to higher selling pressure at the mill level, where limited bulk demand from stockists forced producers to keep their sell offer open. Prices at Naka level eased by ₹30-40. On Thursday evening, about 20 mills sold about 50,000 bags at ₹3,050-3,250 for S-grade and ₹3,170-3,350 for M-grade. Bombay Sugar Merchants Association’s spot rates were: (in ₹) S-grade 3,202- 3,330 and M-grade 3,286-3,562. Naka delivery rates were: S-grade 3,180-3,290 and M-grade 3,270-3,400.
Source: thehindubusinessline:Published on 2018-01-05