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Sugar prices extended gain at mill level by ₹10 a quintal amid increase in freight rates by ₹5 kept Vashi spot market firm on Wednesday. Prices at terminal market rose by ₹10-15 per quintal. Naka rates ruled steady. With arrivals – local dispatches remaining at par on back of improved demand, undercurrent of the market was firm .
Sources said, till now producers were eager to sell commodity at prevailing rates but after import duty hike they were not ready to sell lower rates. Arrivals increased to 60-62 truck loads and local dispatches were at 59-60 loads. On Tuesday evening about 20 mills offered tenders and sold about 60,000 bags at ₹2,880 -3,000 (₹2,880-2,980) for S-grade and ₹3,000-3,130 (₹3,000-3,120) for M-grade. The Bombay Sugar Merchants Association’s spot rates: (in ₹) S-grade 3,040-3,126 and M-grade ₹3,142-3,320. Naka delivery rates: (in ₹) S- grade 3,000-3,090 and M-grade 3,050-3,175.
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