Sugar up after initial slump

Sugar prices at Vashi bounced back, erasing initial loss on Friday and tracking a sharp jump of ₹65- 70 in NCDEX futures, amid on talk of stock limits. Prices firmed up by ₹10-20 erasing initial loss in the start of the day. Naka and Mill tender rates also gained as producers held back and increased rates by ₹20-30. As local retail and bulk demand is expected to rise in May, summer market sentiments remained firm. Futures prices on NCDEX went up by ₹65-70 till noon. Sources added the sudden spurt was witnessed after a weak start, on talk of stock limit and improving demand. Arrivals and dispatches remain at par.