Image Credits: Valley Recovery Center
MUMBAI, APRIL 17
Sugar market continues to remain under pressure as producers sell the commodity at below production cost to sustain financial liquidity. Prices at mill level dropped further by тВ╣10-20 a quintal which dragged the spot rates at Vashi by тВ╣20-30 on Tuesday. The market remained under selling pressure and surplus supplies. Inventory at Vashi market is now hovering at 100-105 truck loads. On Monday evening, MaharashtraтАЩs 17-18 mills sold about 44,000-45,000 bags at тВ╣2,610-2,700 for S-grade and тВ╣2,710-2,850 for M-grade. The Bombay Sugar Merchants AssociationтАЩs spot rates: S-grade тВ╣2,782-2,982 and M-grade тВ╣2,900-3,192. Naka delivery rates: S-grade тВ╣2,750-3,000 and M-grade тВ╣2,850-3,050.
