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Sugar prices improved across the country on Friday encouraging producers to sell the produce at a higher price. At the Vashi wholesale market, spot and naka rates were unchanged. Expectation of higher physical demand at the start of the new month lifted futures prices.
A Vashi based wholesaler said: “Emerging summer will result in higher demand. Demand at upper – mill level was high. In the last two days, Maharashtra mills offloaded 70,000 bags sugar to local trader/stockists. With the market opening after holiday on Thursday, lifting by local retailers was high at the Vashi market.”
Arrivals at Vashi market were around 60- 61 truckloads (each 100 bags) while local dispatches were 59-60 loads. In the last two day, 19 -20 mills offered tenders and sold 68,000-70,000 bags at ₹2,570 - ₹2,670 (₹ 2,570-₹ 2,670) for S-grade and ₹2,750 - ₹2,820 (₹2,750- ₹ 2,820) for M-grade.
The Bombay Sugar Merchants Association's spot rates were: S-grade ₹2,722- ₹ 2,820 (₹2,722-₹2,820) and M-grade was ₹2,862- ₹2,962 (₹2,862 -2,962).
Naka delivery rates were: S-grade ₹ 2,700 -2,800 (₹2,700-2,800) and M-grade ₹2,830 - 2,930 (₹2,830 – ₹2,930).
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