Sugar prices on the Vashi wholesale market was mixed on Monday. Naka and mill tender rates increased by Rs 8-10 due to a hike in transportation changes by Rs 5 for Karad–Kolhapur line. Routine demand in the spot market kept S-grade price unchanged while M-grade rose by Rs 10 on higher demand. Mr Jagdish Rawal of B. Bhogilal and Co said that prices were up on expectation of increase in demand from local stockists and upcountry buyers. Fresh buying inquiry from eastern States such as Assam and West Bengal lifted sentiments in Maharashtra. There was talk of one rail rake (about 27,000 bags) bought by them from Maharashtra’s mills on Saturday.

Further, shortage of trucks in Kolhapur and Karad line pushed up freight charges by another Rs 5 a bag taking the total rise to Rs 10 – 12 in the last one week. Slower arrivals have not affected local market due to the routine and need-based demand. Domestic futures markets and prices in Uttar Pradesh were range-bound. Supply from mills is ample in the local market. Improvement in demand may lead to higher price in the coming days as traders expect demand for Ramadan festival will possibly start from next week.

In Vashi market, arrivals were 54-55 truckloads and local dispatches were 52-53 loads. On Saturday, 9-10 mills offered tenders and sold 78,000– 80,000 bags including one rake - 27,000 bags to eastern buyers in the range of Rs 2,820-2,870 (Rs 2,810-2,870) for S-grade and Rs 2,900-2,980 (Rs 2,890-2,970) for M-grade.

Bombay Sugar Merchants Association's spot rates: S-grade Rs 2,932-2,991 (Rs 2,932-2,991) and M-grade Rs 3,032- 3,181 (Rs 3,021-3,181). Naka delivery rates: S-grade Rs 2,900 -2,940 (Rs 2,900-2,930) and M-grade Rs 2,950-3,050 (Rs 2,960-3,040).