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Spot sugar prices increased for the second consecutive day on the Vashi wholesale market on increased retail demand. Spot prices rose by ₹15-20 a quintal on Tuesday. Naka rates were up by ₹10-15 a quintal, while mill tender rates ruled steady despite higher volume. A Vashi-based wholesaler said: “Higher local demand and approaching festivals such as Ramzan, Ashadhi Ekadashi this month will keep sentiment positive. However, enough stocks available at mill and market level will not allow sudden spurt in prices.” Vashi market currently carries over 115 truckloads of stocks. Producers are also carrying surplus and continuously selling. Hence, supply is ample. Arrivals at the Vashi market increase to 64-65 truckloads and local dispatches also went up to 62-63 loads. Freight rates increased by ₹5. On Monday evening, 18-20 mills offered tenders and sold about 45,000-48,000 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.
Bombay Sugar Merchants Association’s spot rates: S-grade ₹3,142-3,222 (₹3,130-3,202) and M-grade ₹3,222-3,382 (₹3,206-3,382). Naka delivery rates: S-grade ₹3,075-3,170 (₹3,060-3,110) and M-grade ₹3,175-3,290 (₹3,160-3,280).
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