Mumbai, April 10:

Sugar prices on the Vashi wholesale market increased by Rs 10-20 on Wednesday as mill raised the tender rates.

On Tuesday evening, mills sold sugar Rs 10-15 higher on festival demand. Naka rates were up by Rs 10 as resale selling eased.Prices in other producing centres ruled at a par with Maharashtra, hence, supply in local markets is ample.

The domestic futures market extended its gains by Rs 11 after dropping Rs 80 last week. Jagdish Rawal of B. Bhogilal and co, said “consumer demand will set a trend for the market for nearby futures.

“Other supportive factor will be progress of summer. Higher temperature may push up demand from bulk consumers such as cold drink makers”.

In the Vashi market, arrivals were 66-68 truckloads (each 100 bags) and local dispatches were 64-65 loads.On Tuesday evening, about 20-21 mills offered tenders and sold 60,000-64,000 bags at Rs 2,930-3,000 (Rs 2,920-2,990) for S-grade and Rs 3,030- 3,130 (Rs 3,030 - 3,120) for M-grade.

On the National Commodities and Derivatives Exchange, sugar May futures quoted at Rs 2,944 (Rs 2,933), June contracts were Rs 3,000 (Rs 2,987) and July at Rs 3,040 (Rs 3,022) till noon.

The Bombay Sugar Merchants Association’s spot rates were: S-grade Rs 3,112-3,211 (Rs 3,092-3,200) and M-grade Rs 3,212-3,401 (Rs 3,231-3,401).

Naka delivery rates: S-grade Rs 3,040-3,070 (Rs 3,040-3,070) and M-grade Rs 3,140-3,240 (Rs 3,130-3,230).