Indian sugar mills association

Mixed trend in sugar market

Date:	13 Dec 2011

Source:	The Business Line

Reporter:	BL Correspondent

News ID:	760

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MUMBAI, DEC. 12: Sugar on the Vashi wholesale spot market witnessed a mixed trend on Monday. Prices increase by Rs 5-15 a quintal for normal quality while fine quality eased by Rs 5 a quintal in the physical market. Naka rates for S-grade increased by Rs 10 while for M-grade declined by Rs 10 in absence of demand. Mills` tender rates were up Rs 10-20 a quintal as mills refrained from selling at lower prices. Bulk buyers are avoiding buying as they think that current month`s 17-lakh-tonne free-sale quota is sufficient to meet local demand. Prices in other producing States were on par with those of Maharashtra, keeping buyers from other States away. Demand is likely to improve in the last week due to Christmas festival. On last Saturday, 20-22 mills offered tenders and sold about 68,000-70000 bags at Rs 2,900-2,970 (Rs 2,880-2970) for S-grade and at Rs 2,990-3,070 (Rs 2,980-3,060) for M-grade. Arrivals in the Vashi market were higher at 48-50 truckloads and local dispatches were around 47-48 truckloads. Local freight rates were unchanged.

Bombay Sugar Merchants Association`s spot rates: S-grade — Rs 3,041-3,115 (Rs 3,026-3,120), and M-grade — Rs 3,131-3,252 (Rs 3,126-3,252).

Naka delivery rates: S-grade — Rs 2,980-3,020 (Rs 2,980 - 3,010), and M-grade — Rs 3,080-3,170 (Rs 3,090-3,180).

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