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Sugar prices on the futures markets rose by ₹48 a quintal for March contracts lifting the May contracts also by ₹14. On the Vashi wholesale spot market, they ruled steady with minor changes at Naka trade with routine activities. Spot and mill tender rates were unchanged on need-based demand amid ample supply. Arrivals and local offtake remained routine at Vashi bazaar as stockists stayed away from committing themselves to new bulk purchases. Arrivals declined to 63-64 truckloads, while local dispatches remained at 61-62 loads. On Saturday evening, 24-25 mills offered tenders and sold 38,000-40,000 bags at ₹2,540-2,660 (₹2,540-2,660) for S-grade and ₹2,650-2,780 (₹2,650-2,780) for M-grade.
The Bombay Sugar Merchants Association’s spot rates: S-grade ₹2,685-2,782 (₹2,685-2,782) and M-grade ₹2,800-2,946 (₹2,800-2,946). Naka delivery rates: S-grade ₹2,620-2,700 (₹2,625-2,700) and M-grade ₹2,720-2,870 (₹2,710-2,880).
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