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Sugar prices on the Vashi wholesale market increased by ₹5-10 a quintal on Monday, tracking improved sentiments at upper mill level. Naka rates were steady. Mill tender rates were up by ₹10-15. Traders are optimistic about higher demand at the start of the new month.
Jagdish Rawal of B Bhogilal and co told BusinessLine : “Improvement in demand amid firm reports from Uttar Pradesh lifted sentiments in Maharashtra. On Saturday, Maharashtra’s mills sold more than 80,000 bags including one rake – about 24,000 bags to neighbouring States at ₹5-10 higher. Arrivals at Vashi market were steady at 63-64 truckloads, while local dispatches were at 61-62 truckloads. On Saturday evening about 23-24 mills sold 78,000-80,000 bags at ₹2,550 - 2,660 (₹2,540-2,650) for S-grade and ₹2,660-2,790 (₹2,640-2,790) for M-grade.
The Bombay Sugar Merchants Association’s spot rates were: S-grade ₹2,682-2,815 (₹2,680-2,812) and M-grade was ₹2,800-2,962 (₹2,796-2,942).
Naka delivery rates were: S-grade ₹2,630-2,700 (₹2,630 - 2,700) and M-grade ₹2,740-2,870 (₹2,740-2,870).
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