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Sugar prices extended gain further by ₹10-20 a quintal at the Vashi wholesale market on Tuesday on higher demand. Producers sold the commodity at ₹15-20 higher as bulk buyers continued building up their inventory. Naka rates also jumped by ₹10-30.
Arrivals were at 38-40 truck loads (of 10 tonnes each) and local dispatches were at 36-38 loads. Inventories were at 78-80 truck loads. Freight rates were steady at ₹85-100 per bag.
On Monday evening, 18-20 mills sold about 58,000-60,000 bags at ₹3,100-3,180 for S-grade and ₹3,180-3,270 for M-grade.
The Bombay Sugar Merchants Association spot rates (₹/quintal): S-grade ₹3,270-3,342 and M-grade ₹3,340-3,502. Naka delivery rates(₹/quintal): S-grade ₹3,230-3,290 and M-grade ₹3,300-3,380.
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