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Sugar prices increased by ₹10-15 a quintal on the spot and at mills level on Wednesday. Producers and sugar mills held back selling at lower price on hopes that government will extend export subsidies and expectation of higher physical demand at the start of the new month. Naka rates remained steady.
Arrivals declined to 62-64 truckloads while local dispatches remained at 61-62 loads. On Tuesday evening, 22-24 mills offered tenders and sold 73,000-75,000 bags at ₹2,550-2,670 (₹2,540-2,660) for S-grade and ₹2,650-2,800 (₹2,650-2,780) for M-grade.
The Bombay Sugar Merchants Association’s spot rates: S-grade ₹2,700-2,800 (₹2,685-2,782) and M-grade ₹2,842-2,956 (₹2,800-2,946). Naka delivery rates: S-grade ₹2,620-2,700 (₹2,620-2,700) and M-grade ₹2,720-2,870 (₹2,720-2,870).
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