Sugar on a bearish trend

Sugar sector witnessed bearish pattern on Wednesday on confined needs. Price ranges at Vashi dropped by ₹10-twenty on greater providing amid will need foundation community need. Producers’ continued providing at prevailing charges saved Naka and mill tender charges steady, with insignificant adjustments. Sufficient quota for the month and constant source from mills on fewer-than-anticipated bulk need saved morale weak, explained sources.

Arrivals at Vashi were being about 34-35 truckloads (every single of 10 tonnes) and community dispatches were being at exact same amount. At Vashi, stock was about a hundred-a hundred and five truckloads. Freight charges were being stable at ₹80-a hundred for each bag.

On Tuesday night, 16-18 mills supplied tenders and marketed about 35,000-36,000 bags at ₹3,110-three,one hundred seventy (₹3,110-three,one hundred seventy) for S-quality and ₹3,200-three,270 (₹3,200-three,270) for M-quality.

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

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

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