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Sugar prices extended gain in spot and futures market on back of increased festival demand at mill and market level. At Vashi, spot rates were up by ₹10-15 a quintal while naka rates remained unchanged. Mill tender rates gained ₹10-12 as producers were not willing to sell at discount.
Arrivals at Vashi market continued at 63-64 truck loads while local dispatches were 61-62 loads. Freight rates were steady. On Wednesday evening, 15-17 mills offered tenders and sold 48,000-50,000 bags at ₹2,420-2,480 (2,400-2,470) for S-grade and ₹2,490-2,580 (2,470-2,570) for M-grade.
The Bombay Sugar Merchants Association’s spot rates: S-grade ₹2,462-2,611 (2,472-2,605) and M-grade ₹2,572-2,692 (2,562-2,692). Naka delivery rates: S-grade ₹2,450-2,530 (2,450-2,530) and M-grade ₹2,530-2,640 (2,530-2,640).
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