Bullish Cues Lift Sugar

456

Image Credits: The Independent

MUMBAI, MAY 3
Sugar prices for M-grade increase by ₹10 a quintal, while that of S-grade remained flat. Naka and mill tender rates were steady despite higher bulk demand and volume at mill level. As producers continued selling at prevailing rates to ease surplus stocks, supply remained ample with thin price volatility. The Centre’s proposal of ₹55/tonne cane subsidy to farmers has encouraged stockists to go for fresh inventory. Freight rates were steady. Arrivals were at 58-60 truck loads and local dispatches were at 57-58 loads. The Bombay Sugar Merchants Association’s spot rates: S-grade ₹2,682-2,820 and M-grade ₹2,768-2,900. Naka delivery rates: S-grade ₹2,660-2,760 and M-grade ₹2,740-2,825.

SOURCEThe Hindu Business Line

LEAVE A REPLY

Please enter your comment!
Please enter your name here