Sugar prices on the Vashi wholesale market shot up by Rs.20-30 a quintal on firm mill tender rates amid higher demand for the second consecutive day. Sources said that Maharashtra’s producers sold over one lakh bags Rs.20-40 higher on Wednesday evening in line with a sharp jump in domestic futures and higher local demand. Freight rates also went up by Rs.5-7 per bag. Arrivals were hardly at 45-46 truckloads and local dispatches were 60-62 loads. On Thursday evening, 22-24 mills offered tenders and sold about 1-1.25 lakh bags at Rs.2,310-2,450 (2,290-2,430) for S-grade and Rs.2,480-2,590 (2,440-2,570) for M-grade.

The Bombay Sugar Merchants Association’s spot rates: S-grade Rs.2,440-2,580 (2,420-2,551) and M-grade Rs.2,576-2,682 (2,526-2,652). Naka delivery rates: S-grade Rs.2,400-2,475 (2,400-2,475) and M-grade Rs.2,500-2,650 (2,430-2,590).