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Domestic Sugar Prices Continue To Rule Steady

9 Oct 2019 8:08 pm
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NEW DELHI (Commoditiescontrol) - Prices of sugar continued to remain steady at the Mumbai market on Wednesday amid limited trade.

In Mumbai, prices were at Rs 3,272-3,412 a quintal for S-grade and at Rs 3,402-3,572 for M-grade, as per Bombay Sugar Merchants Association.

As per trade sources, the overall sentiments are still negative as mills are selling at lower rates to liquidate excess stocks before cane crushing starts in November.

In most states, crushing of cane is likely to start in the first and second weeks of November, against Oct-end last season. Crushing may be delayed till mid-November because of lack of labour and cane maturity, and less cane availabiliy.

However, traders expect buying by sweet manufacturers for Diwali to pick up ahead.

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