Medium sugar prices rose sharply at the Vashi wholesale sugar market here today on emergence of fresh buying from stockists and bulk consumers amid restricted arrivals.
Strong domestic as well as upcountry demand ahead of festivities alongwith speculative buying following government decision to partially decontrol the sugar sector, mainly supported the price rise.
Small sugar variety, however, showed a mixed trend owing to alternate bouts of buying and selling.
Sugar traders resumed their business today after a three-day strike in protest against the imposition of Local Bodies Tax (LBT) by the government.
Medium sugar (M-30) surged by Rs 11/31 per quintal to Rs 3,231/3,411 from last Wednesday's closing level of Rs 3,200/3,400.
Small sugar (S-30) was quoted at Rs 3,092/3,200 per quintal, as compared to Rs 3,100/3,191 previously.
Following are today's closing rates for sugar (per quintal) with the previous rates given in brackets:
Medium sugar (M-30) quality: Rs 3,231/3,411 (Rs 3,200/3,400).
Small sugar (S-30) quality: Rs 3,092/3,200 (Rs 3,100/3,191.
