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Fair-quality sugar rose by Rs 5 a quintal in the spot market on Diwali demand while the fine variety remained unchanged.
Prices at the naka level have remained unchanged for three days now. Mill tender rates moved in a range of Rs 5. There was no demand from Eastern states.
Sugar in Maharashtra remains cheaper compared with other centres, where prices remained unchanged, a wholesaler said. This month's free-sale quota was sufficient at 17.5 lakh tonnes but traders expect the Centre to reduce next month's quota as demand will drop after Diwali.
Arrivals in the Vashi market were at 57-58 truckloads while local dispatches were at 55-56 truckloads. On Monday, 18-20 mills offered tenders and sold about 70,000 bags to local traders. Mills sold S-grade at Rs 2,695-2,780 (Rs 2,699-2,780) and M-grade at Rs 2,795-2,910 (Rs 2,795-2,910).
Bombay Sugar Merchants Association's spot rates: S-grade — Rs 2,816-2,900 (Rs 2,818-2,895); M-grade — Rs 2,914-3,062 (Rs 2,910-3,062).
Naka delivery rates: S-grade — Rs 2,770-2,820 (Rs 2,770-2,820); M-grade — Rs 2,875-3,020 (Rs 2,875-3,020).
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