|
|
|
|
|
Sugar up Rs 40/quintal on retail buying |
 |
|
Date |
30-Jun-2010 |
|
Source |
THE HINDU.BUSINESS LINE |
|
Reporter |
Bloomberg Report |
|
News Id |
207 |
|
|
|
After two days of decline, spot sugar price at the Vashi APMC market rose by Rs 30-40 a quintal.
Increased retail buying supported the market sentiment.
With the new month starting on Thursday, shopkeepers and stockists were keen to buy at lower level. On good buying by stockists, Naka delivery rate rose by Rs 60-Rs 70 after declining in the last two days.
A trader said month-end pressure of lifting of goods from the mills is down and traders are ready for new buying. Before stockists start their new buying, prices at mill level firmed up sharply.
Spot market price is still lower than ex-mill cost. But due to the small support by retailers, spot price had a limited rise. Arrivals increased and reached 48-50 truckloads (each of 10 tonnes). Lifting was also good. Mumbai local delivery went up to 35-36 truckloads.
From Thursday retail buying will pick up as usual and the price may rise with the support of upcountry buying, the trader said.Today in Vashi spot market, S-grade sugar was traded at Rs 2,680-Rs 2,750 a quintal and M-grade was traded at Rs 2,710-Rs 2,820 a quintal. Sugar Naka delivery price was Rs 2,680-Rs 2,700 and Rs 2,620-Rs 2,760 for S-grade and M-grade respectively.
The mill delivery tender (including excise) was quoted at Rs 2,610-Rs 2,630 for S-grade and Rs 2,550-Rs 2,680 for M-grade. Maharashtra ex-mill prices were Rs 2,510-Rs 2,560 for S-grade and Rs 2,550-Rs 2,600 for M-grade. |
|
|
|
|