Sugar on a bearish trend

Joseph B. Hash

Sugar current market witnessed bearish craze on Wednesday on restricted needs. Charges at Vashi dropped by ₹10-twenty on bigger marketing amid need foundation neighborhood demand. Producers’ continued marketing at prevailing charges stored Naka and mill tender charges continuous, with minor variations. Adequate quota for the month and ongoing offer from mills on fewer-than-anticipated bulk demand stored morale weak, mentioned resources.

Arrivals at Vashi were about 34-35 truckloads (just about every of ten tonnes) and neighborhood dispatches were at identical stage. At Vashi, inventory was about one hundred-a hundred and five truckloads. Freight charges were steady at ₹80-one hundred per bag.

On Tuesday evening, sixteen-eighteen mills supplied tenders and marketed about 35,000-36,000 baggage at ₹3,one hundred ten-3,a hundred and seventy (₹3,one hundred ten-3,a hundred and seventy) for S-grade and ₹3,200-3,270 (₹3,200-3,270) for M-grade.

Bombay Sugar Retailers Association’s place charges (₹/quintal): S-grade ₹3,250-3,322 (₹3,2603,332) and M-grade ₹3,352-3,486 (₹3,372-3,486).

Naka supply charges (₹/quintal): S-grade ₹3,210-3,260 (₹3,210-3,260) and M-grade ₹3,290-3,360 (₹3,290-3,360).

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