Higher demand sweetens sugar

Sugar market ruled firm extending its bullish trend on back of firm mill tender rates amid higher physical demand. On the Vashi market, prices went up by ₹10-20 a quintal at the higher side while ruled steady at the lower end. Naka rates were down by ₹20. Local dispatches came down as retail demand eased. As bulk demand is expected to rise in the coming days, the bullish trend will continue. At Vashi market, arrivals declined to 60- 61 truck loads and local dispatches also eased to 58-60 loads. Freight rates were steady. The Bombay Sugar Merchants Association’s spot rates: S-grade ₹3,482-3,582 (3,482-3,572) and M-grade ₹3,542-3,672 (3,542-3,652). Naka delivery rates: S-grade ₹3,480-3,530 (3,480-3,550) and M-grade ₹3,550-3,630 (3,550-3,650).