Sugar on a bearish trend

Sugar market witnessed bearish trend on Wednesday on minimal demands. Selling prices at Vashi dropped by ₹10-twenty on better offering amid require base community desire. Producers’ continued offering at prevailing charges kept Naka and mill tender charges constant, with minor alterations. Sufficient quota for the month and ongoing offer from mills on less-than-expected bulk desire kept morale weak, stated resources.

Arrivals at Vashi had been about 34-35 truckloads (each and every of ten tonnes) and community dispatches had been at same level. At Vashi, stock was about 100-105 truckloads. Freight charges had been stable at ₹80-100 per bag.

On Tuesday evening, 16-18 mills presented tenders and offered about 35,000-36,000 bags at ₹3,110-three,a hundred and seventy (₹3,110-three,a hundred and seventy) for S-grade and ₹3,two hundred-three,270 (₹3,two hundred-three,270) for M-grade.

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

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