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Sugar prices on the Vashi wholesale market extended gains on higher retail demand amid firm mill tender rates on Tuesday. Producers sold higher quantity for the third consecutive day on improved demand following expectation of a higher local demand in the coming days. On the spot, prices were up ₹10 for S-grade and higher by ₹30 for M-grade. Naka rates were higher by ₹10, tracking extended gains in mill tender rates. A wholesaler said: “Continuous improvement in local demand at market level and stockist demand at the upper level kept activities higher. On Monday evening, Maharashtra’s producers sold over 75,000 bags .” Arrivals at Vashi market were around 61-62 truckloads (of 100 bags each) and the local dispatches were 60-61 loads. On Monday, 18-20 mills offered tenders and sold about 70,000-75,000 bags at ₹2,580-2,690 (₹2,570-2,670) for S-grade and ₹2,770-2,820 (₹2,750-2,820) for M-grade.
Bombay Sugar Merchants Association’s spot rates were: S-grade ₹2,751-2,852 (₹2,736-2,842) and M-grade was ₹2,892-3,006 (₹2,856-2,980). Naka delivery rates were: S-grade ₹2,710-2,800 (₹2,765-2,850) and M-grade ₹2,820-2,920 (₹2,795-2,950).
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