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Sugar prices rose by ₹10-30 for S-grade and by ₹10-50 for M-grade on the Vashi wholesale spot market on Monday, tracking firm mill prices. However, slack demand keep activities at a low key. Naka rates increased by ₹10-50 on lower selling. Mills sold the commodity at ₹1-20 higher. Under current of the market continued to be bullish, said sources.
Sources said that local demand also improved on Holi and new buying enquiries from neighbouring States.
Arrivals at Vashi market were about 64-65 truckloads (of 100 bags each) and the local dispatches were 62-63 loads. On Saturday evening, 20 -22 mills offered tenders and sold more than 80,000 bags at ₹2,650-2,760 (₹2,640-2,740) for S-grade and ₹2,850-2,940 (₹2,830-2,940) for M-grade.
Bombay Sugar Merchants Association’s spot rates were: S-grade ₹2,860-2,932 (₹2,831-2,922) and M-grade was ₹2,976-3,082 (₹2,920-3,066). Naka delivery rates were: S-grade ₹2,860-2,950 (₹2,810-2,900) and M-grade ₹2,950-3,060 (₹2,940-3,050).
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