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Sugar prices extended gain by ₹10-20 a quintal on the Vashi on higher local demand amid firm mill tender rates. In absence of reselling, naka prices went up by ₹10-40. Producers were not very keen to sell at lower price on expectation of higher festival demand.
A Vashi-based wholesaler said retail as well as bulk demand remained higher. However, arrivals remained sufficient that kept prices under check. Vashi market currently carries about 110-115 truck loads stocks. Freight rates remain steady. Arrivals were at 60-62 truck loads while local dispatches were at same level. On Thursday evening, 14-15 mills offered tenders and sold 39,000-40,000 bags at ₹2,290-2,390 (2,290-2,390) for S-grade and ₹2,400-2,490 (2,400-2,490) for M-grade.
The Bombay Sugar Merchants Association’s spot rates: S-grade ₹2,420-2,520 (2,410-2,502) and M-grade ₹2,480-2,582 (2,470-2,572). Naka delivery rates: S-grade ₹2,410-2,480 (2,370-2,470) and M-grade ₹2,500-2,600 (2,490-2,590).
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