Mumbai, Aug. 7:

Sugar prices on the Vashi wholesale market extended their gain by Rs 5-7 a quintal for fine-bold variety on Wednesday on improved local demand.

Shortage of trucks in Kolhapur-Karad line resulted in lower arrivals. Futures prices were flat due to surplus supplies and an improvement in demand due to festivals.

Naka rates were unchanged on the fourth consecutive day. Mill tender rates were up by Rs 5-10 for fine-bold variety.

Sources said that improve demand for fine variety ahead of festivals pushed up prices in spot market, while in futures, it remained range-bound due to surplus supply.

The arrivals in Vashi market were 59-60 truck loads (each of 100 bags) while local dispatches were 61-62.

On Tuesday evening, 15-17 mills offered tenders and sold about 44,000-45,000 bags at Rs 2,920-2,980 (Rs 2,920-2,980) for S-grade and Rs 2,990-3,120 (Rs 2,980-3,120) for M-grade.

On the National Commodities and Derivatives Exchange, sugar September futures were unchanged at Rs 3,011 (Rs 3,011), October up by Rs 3 to Rs 3,028 (Rs 3,025) and November higher by Rs 14 to Rs 3,015 (Rs 3,001) till noon.

The Bombay Sugar Merchants Association’s spot rates were: S-grade Rs 3,052-3,145 (Rs 3,052-3,142) and M-grade Rs 3,156-3,342 (Rs 3,162-3,322).

Naka delivery rates were: S-grade Rs 3,010-3,070 (Rs 3,010-3,070) and M-grade Rs 3,100-3,220 (Rs 3,100-3,220).