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Spot sugar prices on the Vashi wholesale market rose by ₹20-25 a quintal for S-grade and by ₹4-5 for M-grade on Monday on the back of improved demand from retailers. Naka and mill tender rates rule unchanged on thin activities. Producers kept their sale tender offer open on Saturday evening due to slack demand. Stockists stayed away as they were under pressure to lift the commodity before the month-end. On the futures market, prices were firm due to deficient monsoon and slow progress in kharif sowing. Sources said at retail level, the offtake remained higher on par with arrivals lifting the prices. But at naka and mill level due to slack demand activities remained need-based. Very few producers offered sale tenders on Saturday evening but poor response forced them to keep the offer open. Arrivals at Vashi market declined to 61-62 truckloads and local despatches were about 60-61 loads. Freight rates were steady. On Saturday evening hardly 5-7 mills offered tenders and sold about 1,500 - 2,000 bags at ₹2,980 - ₹3,050 (₹2,980 - ₹3,050) for S-grade and ₹3,100 - ₹3,230 (₹3,100 - ₹3,230) for M-grade.
The Bombay Sugar Merchants Association’s spot rates were: S-grade ₹3,130 - ₹3,202 (₹3,102 - ₹3,182) and M-grade was ₹3,206 - ₹3,382 (₹3,202 - ₹3,382).
Naka delivery rates were: S-grade ₹3,060-3,110 (₹3,060 - 3,110) and M-grade ₹3,160 - 3,280 (₹3,160 - ₹3,280).
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