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A ₹8-10 a quintal hike in freight rates in Kolhapur-Karad pushed up sugar spot prices. At the Vashi wholesale market, despite routine supply and need-based demand, sugar prices went up by ₹10-15 for the fine variety. However, aggressive selling of old stocks pulled down naka rates by ₹20. Producers continued selling at prevailing rates, keeping tender rates unchanged.
Sugar production in the first two months (October and November) increased by over six lakh tonnes to 17.81 lakh tonnes from 11.40 lakh tonnes in the same period last year. Producers and stockists are carrying enough stocks, hence activities remained normal. The Vashi wholesale market carried over 110-115 truckloads of stocks, keeping stockists away.
Arrivals at Vashi market continued at 63-64 loads, while local dispatches were at 6-62 truckloads. On Saturday, about 24-25 mills offered tenders and sold 65,000-68,000 bags at ₹2,580-2,700 (₹2,580-2,700) for S-grade and ₹2,700-2,840 (₹2,700-2,840) for M-grade.
Bombay Sugar Merchants Association’s spot rates were: S-grade ₹2,756-2,840 (₹2,742-2,840) and M-grade was ₹2,880-3,050 (₹2,882-3,050).
Naka delivery rates were: S-grade ₹2,680-2,800 (₹2,700-2,800) and M-grade ₹2,800-2,930 (₹2,820-2,950).
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