Removal of export duty lifts sugar

Sugar prices at Vashi and mill level climbed up on Tuesday as government scrapped the 20 per cent export duty. At Vashi prices declined by ₹10-15 a quintal as naka rates were down ₹30. But towards the evening, prices gained. Mill tender rates were steady. Arrivals declined to 57-58 truck loads and local dispatches were at 54-55 loads. Inventory at Vashi is estimated at 115-120 truck loads. The Bombay Sugar Merchants Association’s spot rates: S-grade ₹3,042-3,152 and M-grade ₹3,170-3,352. Naka delivery rates: S-grade ₹2,970-3,060 and M-grade ₹3,055-3,145.