Sugar prices turned better after a long time on Monday on the back of higher demand amid firm trend at mill level on hopes of incentives from the Centre for producers. On the Vashi wholesale market, spot rates increased sharply by ₹10-30 a quintal. Naka rates were up ₹10-50 tracking a jump in mill tender rates by ₹30-40. Higher demand from stockists lifted volume at the upper level. Maharashtra’s producers sold over 1.25-1.5 lakh bags on Saturday.

Local offtake also rose as retailers preferred to stock before monsoon starts. Freight rates remained steady.

Arrivals at Vashi market declined to 60-62 truckloads and local offtake was 61-62 loads. On Saturday evening, 27-28 mills offered tenders and sold over 1-1.25 lakh bags at ₹2,880-2,980 (₹2,840-2,950) for S-grade and ₹2,980-3,130 (₹2,950-3,090) for M-grade.

Bombay Sugar Merchants Association’s spot rates: S-grade ₹3,030-3,155 (₹3,000-3,145) and M-grade was ₹3,152-3,300 (₹3,152-3,292). Naka delivery rates: S-grade ₹2,980-3,060 (₹2,930-3,050) and M-grade ₹3,100-3,220 (₹3,050-3,210).