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Thin trade volume pulls down sugar a tad |
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Date |
28-Jul-2010 |
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Source |
THE HINDU BUSINESS LINE |
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Reporter |
Our Correspondent |
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News Id |
242 |
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Sugar prices on Tuesday declined marginally on lack of parity and thin volumes. Reports from Kolhapur and Sangali said that mills, on Monday evening, reduced rates by Rs 35 and Rs 45 a quintal. Local demand was poor and the low volume kept price movement range-bound, said trade sources.
On the spot on Tuesday, due to slack arrivals, S-grade sugar price rose Rs 10 and M-grade eased Rs 5 a quintal. . Once a clear picture emerges,, the demand-supply will play a lead role for the market movement, he added.
On Tuesday, Vashi markets witnessed arrivals at 30-35 truckloads (each of 10 tonnes) against 45-50 on Monday. Lifting was for 50-55 truckloads. Buying from Gujarat, Madhya Pradesh and Rajasthan was at routine level. According to the Sugar Merchants Association, the spot market rate was for S grade Rs 2,790/2,860 a quintal against Rs 2,790/2,860 on Monday. M grade was steady at Rs 2,820/2,950. Naka delivery Rate for S-grade was Rs 2,760/2,800 against Rs 2,770/2,800. M-grade Naka delivery eased to Rs 2,820/2,880 from Rs 2,820/2,900. |
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