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Sugar prices on the Vashi wholesale market were up ₹5-10 a quintal on Thursday on hike in freight rates . Naka rates were mixed with gain of ₹10-15 on the lower side and ₹20-25 drop on the higher side. Mill tender rates were unchanged.
An observer said: “As producers continued selling at prevailing rates with the start of new crushing season, supply in the markets has eased. On the other hand, bulk demand for Diwali is almost over and stockists themselves are carrying ample inventory.”
Arrivals were at 59-60 truckloads and local dispatches were 61-62 loads. On Wednesday, there were no mill sale tender offers. The Bombay Sugar Merchants Association’s spot rates: S-grade ₹2,970-3,046 (₹2,960-3,042) and M-grade ₹3,050-3,225 (₹3,050-3,221). Naka delivery rates: S-grade ₹2,910-2,970 (₹2,900-3,000) and M-grade ₹3,010-3,100 (₹3,050-3,120).
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