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Sugar Prices Decline In Kolkata As Lowered Mill Rates Disturb Sentiments

31 Oct 2020 6:08 pm
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NEW DELHI (Commodities control) Sugar prices slipped Rs. 30 per quintal today in Kolkata market because a prominent sugar mill declined it’s selling prices by Rs. 40 per quintal. Sudden price decline hurt market sentiments and stockists/traders had to face heavy losses. Price volatility in Kolkata was exception, because other markets remained stable on week end.

According to trade sources, Balrampur Chini reduced it’s selling price by Rs. 40 today for next week's sale. Although, at the end of current week and month, other mills did not lower their rates. However, it was not clear, which unit of Balrampur Chini reduced prices. But such step affected market sentiments. Therefore market prices declined by Rs. 30-40 per quintal.

M grade sugar was sold at Rs. 3610-3630 per quintal, earlier, it was priced at Rs. 3640-3660 per quintal. Although, mill selling prices reduced for next week's supply, but it impacted ready market as well.

A trader from Kolkata market told us that mills had increased prices earlier to gain maximum revenue. However a single disturbed market sentiments due to which traders incurred losses today.

According to traders, festival demand may not push prices any further but the steady demand may continue till first week of next month. Sugar prices are not likely to see much decline in the first week, but price fall in Kolkata may alarm other markets also where steady trend persisted.

Meanwhile, Delhi, UP, western and southern markets witnessed muted trade on Saturday.


Market

Grade

31-Oct

30-Oct

Change

Delhi

M-31

3580-3700

3580-3700

0

(Including GST)

S-31

3560-3670

3560-3670

0

Muzaffarnagar (UP)

M-31

3560-3680

3560-3680

0

(Including GST)

S-31

3540-3650

3540-3650

0

Kanpur (UP)

M-31

3570-3690

3570-3690

0

(Including GST)

S-31

3550-3660

3550-3660

0

Mumbai-Vashi

M-30

3296-3452

3296-3452

0

GST Extra

S-30

3240-3286

3240-3286

0

Mumbai-Naka

M-30

3235-3325

3235-3325

0

GST Extra

S-30

3175-3225

3175-3225

0

Kolhapur (Maha)

M-30

3140-3200

3140-3200

0

GST Extra

S-30

3100-3120

3100-3120

0

Hyderabad (Tel.)

M-30

3190-3210

3190-3210

0

GST Extra

S-30

3160-3190

3160-3190

0

Bangaluru (Ktk)

M-30

3230-3260

3230-3260

0

GST Extra

S-30

3200-3230

3200-3230

0

Chennai (TN)

M-30

3320-3350

3320-3350

0

GST Extra

S-30

3300-3320

3300-3320

0

Kolkata Ex-Rly Siding

M-30

3610-3630

3640-3660

-30

(Including GST)

S-30

3520-3530

3550-3560

-30

(By Commoditiescontrol Bureau: +91-22-40015505)


       
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