June 21, 2024


Passion For Business

Sugar rules steady; mills carry surplus stocks

Sugar ruled continuous all concentrations on Wednesday just after climbing by ₹20-30 per quintal the prior working day on converse of an maximize in the bare minimum offering price (MSP) by ₹200.

Mills are carrying weighty surplus shares of about a hundred and forty lakh tonnes regardless of a dip in cane crushing with decreased sugar manufacturing at 272 lakh tonnes this yr. Sector activities were being restricted on have to have-based mostly neighborhood and bulk desire. Export desire continued to guidance very little.

Prafull Vithlani, President of the All India Sugar Trade Association (AISTA ), said that until July three, domestic mills have dispatched a whole about forty nine lakh tonnes for exports which includes 24 lakh tonnes raw sugar, twenty lakh tonnes whites and one.32 lakh tonnes refined. With a 24 per cent share and at 10.65 lakh tonnes, Iran remained the top rated purchaser of Indian sugar.

Arrivals at Vashi were being 40-forty two truck loads (every of 10 tonnes) and neighborhood dispatches were being 38-40 truck loads. The stock at Vashi was about 84-85 truck loads. Freight prices were being continuous at ₹80-one hundred per bag.

On Tuesday night, seventeen-eighteen mills offered tenders and offered about forty four,000-45,000 baggage at ₹3,one hundred sixty-three,250 (₹3,one hundred sixty-three,250) for S-grade and ₹3,260-three,370 (₹3,260-three,370) for M-grade.

Place prices on the Bombay Sugar Merchants Association were being (₹/quintal):

S-grade ₹3,332-three,382 (₹3,342-three,382) and M-grade ₹3,four hundred-three,602 (₹3,four hundred-three,602).

Naka supply prices were being (₹/quintal): S-grade ₹3,310-three,360 (₹3,310-three,360) and M-grade ₹3,four hundred-three,five hundred (₹3,four hundred-three,five hundred).