Sugar prices on the Vashi wholesale market ruled unchanged on Thursday as spot market was closed for Bhau Bij festival.

Domestic sugar futures prices were up by Rs 12-16 a quintal on expectation of delay in crushing due to the ongoing farmer’s agitation for increase in cane price in main producing areas of Maharashtra.

There were no arrivals – dispatches or loading – unloading in the Vashi market due to holiday.

Under tone remained slightly firm due to disturbance in supply from producing areas. Business will be normal from Friday said a wholesaler.

The Bombay Sugar Merchants Association has fixed the Naka rates Rs 3,411.25-3,471.25 for S-grade and Rs 3,425.25-3,660.25 for M-grade, fine bold variety M-grade Rs 3,680.25 on Diwali Muhurat day for three days.

Due to holiday, only a few mills are expected to float tenders in the evening at Rs 3,330-3,380 (Rs 3,330-3,380) for S-grade and Rs 3,400- 3,500 (3,400- 3,500) for M-grade. Vashi spot rates: S-grade Rs 3,470-3,550 (Rs 3,470-3,550) and M-grade Rs 3,510-3,710 (Rs 3,510- 3,710).

On National Commodities and Derivatives Exchange, December futures was higher Rs16 to Rs 3,331 (Rs 3,315), January up by Rs 12 to Rs 3,342 (Rs 3,330) and February Rs 3,361 (Rs 3,349).

(This article was published on November 15, 2012)
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