MUMBAI, MARCH 21:  

Sugar prices on the Vashi wholesale spot market ruled steady on routine demand-supply. Prices for M-grade fine variety went up by Rs.5-10 while S-grade was unchanged. Naka prices were unchanged. Producers continued selling at prevailing rates as demand eased. Sources said that arrivals from producing centres continued to be higher for the second consecutive day on lower local demand. Regular selling by mills kept prices steady at higher level. Sugar prices have increased by over Rs.200 this month on support of renew demand from domestic and overseas markets, now trying to settle down current level for short while. Rising mercury from April, end of the cane crushing season and lower production will keep the market’s undercurrent positive.

Arrivals at Vashi market were about 62-63 truckloads (100 bags each) and local dispatches were 59-60 loads. On Thursday evening, 19-20 mills offered tenders and sold about 68,000 - 70,000 bags at Rs.2,820-2,940 (Rs.2,820-2,940) for S-grade and Rs.2,980-3,060 (Rs.2,980-3,060) for M-grade.

Bombay Sugar Merchants Association's spot rates were: S-grade Rs.2,932-3,035 (Rs.2,932-3,035) and M-grade was Rs.3,031-3,156 (Rs.3,016-3,152).

Naka delivery rates were: S-grade Rs.2,890-2,970 (Rs.2,890-2,970) and M-grade Rs.2,950-3,100 (Rs.2,950-3,100).