Sugar prices shot up as wholesale and retail demand for Navratri picked up amid supporting factors like bullish overseas futures and lower domestic production in 2016-17. At Vashi spot and naka rates were up by ₹15-20 and ₹30-40 a quintal respectively. Arrivals to the Vashi were at 61-62 truck loads and local dispatches were higher at 64-65 loads.
Freight rates were steady. The Bombay Sugar Merchants Association’s spot rates:S-grade ₹3,582-3,732 (3,586-3,725) and M-grade ₹3,702-3,852 (3,642-3,846). Naka delivery rates: S-grade ₹3,560-3,620 (3,520-3,580) and M-grade ₹3,610-3,720 (3,600-3,680).
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