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Demand for fair-quality M-grade sugar lifted its price by Rs 5 on the Vashi wholesale market while S-grade remain unchanged on Thursday. Business was restricted to the retail market as there was no new buying by stockists.
Local transporters have indicated that they are not joining the national strike that begins at midnight on Thursday, keeping in mind upcoming festivals, said traders. Local dispatches, hence, will not be hurt, they added.
Demand from neighbouring States was lacking. Freight rates were steady.
New demand is expected from next week onwards with the onset of festivals. Local demand remains limited in the middle of the month. Mills are selling to finish their monthly free-sale quota till month-end. As the quota this month is higher at of 17.03 lakh tonnes, selling may increase in the coming days.
Arrivals were at 54-55 truckloads of 100 bags each in the Vashi market while local dispatches were at 52-54truckloads. On Wednesday, 18-20 mills offered tenders and sold 90,000-95,000 bags of a quintal each at Rs 2,615-2,660 (Rs 2,615-2,650) for S-grade and at Rs 2,660-2,740 (Rs 2,650-2,740) for M-grade.
Bombay Sugar Merchants Association's spot prices: S-grade Rs 2,735-2,792 (Rs 2,736-2,792) and M-grade Rs 2,791-2,951 (Rs 2,786-2,951).
Naka rates: S-grade Rs 2,680-2,710 (Rs 2,680-2,710) and M-grade Rs 2,750-2,850 (Rs 2,750-2,850).
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