Sugar in bear grip
       Date 16-Jun-2015
       Source Business Line
       News Id 1716
Sugar prices continued their bearish trend as Maharashtra’s producers sold the commodity at ?20-25 a quintal lower to ease stocks. On the Vashi market prices declined by ?15-20 on routine demand-supply. Naka rates came down by ?40-120 for S-grade and declined by ?40-60 for M-grade. A Vashi-based wholesaler said enough stocks, limited retail orders, continuous selling by producers continued to weigh on sentiment. Arrivals at Vashi market remain stable at 57-58 truck loads and local dispatches were about 56-57loads. On Monday evening, about 19-20 mills offered tenders and sold about 38,000-40,000 bags at ?2,125-2,290 (2,150-2,300) for S-grade and ?2,250-2,420 (2,250-2,440) for M-grade. The Bombay Sugar Merchants Association’s spot rates: S-grade ?2,252-2,491 (2,272-2,505) and M-grade ?2,402-2,652 (2,402-2,652). Naka delivery rates: S-grade ?2,210-2,280 (2,250-2,400) and M-grade ?2,350-2,550 (2,410-2,550).