Rising Stocks Drag Sugar Down

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Image Credits: Kombucha Home

MUMBAI, MARCH 9
Sugar market ruled weak on Friday on higher selling pressure from mills amid routine demand. As producers sold the sweetener at ₹20 a quintal lower than previous evening, prices at Vashi came down further by ₹15-20. Naka rates were stable for the sixth consecutive day.

Sufficient new arrivals and pile-up of inventories kept the morale bearish. Arrivals to the Vashi market were about 60-62 truck loads and local dispatches were at 58-60 loads. The Bombay Sugar Merchants Association’s spot rates: S-grade ₹3,130-3,232 and M-grade ₹3,226-3,450. Naka delivery rates: S-grade ₹3,090-3,205 and M-grade ₹3,165-3,360.

SOURCEThe Hindu Business Line

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