Sudden Spurt In Sugar Market

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Sugar market witnessed sudden spurt late last evening on reports of Centre considering buffer stock of 30 lakh tonnes to boost the margin of mills. On Thursday 20-22 mills in Maharashtra’s sold over 1.25 lakh bags ₹2,750-2,820 for S-grade and ₹2,820-2,900 for M-grade. On Bombay Sugar Merchants Association’s spot rates were: S-grade ₹2,840- 2,950 and M-grade ₹2,952-3,080. Naka delivery rates were: S-grade ₹2,830– 2,900 and M-grade ₹2,900-3,000

SOURCEThe Hindu Business Line

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