Sugar prices on the Vashi wholesale market ruled steady with fine variety rising ₹3-5 a quintal on Thursday. Continuous demand at the upper level kept mill tender and naka rates firm. In Naka trade, M-grade fine variety sold at ₹40 higher. On the spot, the volume remained slightly lower due to eased demand. A broker told Business Line that volume continued to be higher at Maharashtra’s mills as prices are ruling higher in other main producing centres. However, local demand was down but traders hope that it will rebound soon as summer approaches. Also, demand from bulk consumers such as soft-drinks and ice-cream makers and fall in output led to persistent rise in the sweetener prices.Arrivals at Vashi market were around 61-62 truckloads (of 100 bags each) and the local dispatches were 58-60 loads. On Wednesday, 11-12 mills offered tenders and sold 38,000-40,000 bags at ₹3,100-50 (₹3,090-3,150) for S-grade and ₹3,150-3,330 (₹3,140-3,320) for M-grade.
Bombay Sugar Merchants Association’s spot rates were: S-grade ₹3,232-3,380 (₹3,232-3,380) and M-grade was ₹3,350-3,512 (₹3,350-3,506). Naka delivery rates were: S-grade ₹3,200-50 (₹3,190-3,260) and M-grade ₹3,300-3,400 (₹3,260-3,400). Our Correspondent