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Sugar Prices Mostly Steady In Mumbai

6 Dec 2019 4:16 pm
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NEW DELHI (Commoditiescontrol) - Prices of sugar remained mostly steady at the Mumbai market on Friday as an increase in demand due to the ongoing marriage season offset impact of higher sale quota.

However, prices of small grade sugar gained from higher range due to selective demand.

The government has fixed December sale quota for mills at 21.5 lakh tonnes, while in November it was 20.5 lakh tonnes.

Prices were at Rs 3,230-3,362 a quintal for S-grade and at Rs 3,330-3,572 for M-grade, as per Bombay Sugar Merchants Association.

Traders said, apart from marriage season demand, some export deals also prevented decline in prices.

Indian mills have so far signed deals for about 1.5 million tonnes, including contracts with port-based refineries. India mainly exports sugar to Iran, Sri Lanka, Afghanistan and African countries among others.

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