Sugar prices spurted at the Vashi wholesale market here today on strong buying by stockists and bulk traders.
'The May month allocation of non-levy sugar for sale in the open market seems to be fell short of expectation, which boosted the trading sentiment', traders said.
Meanwhile, the government has made available 19.63 lakh tonne of sugar (levy sugar 2.13 lakh tonne and non-levy sugar 17.50 lakh tonne) for the month of May.
Medium sugar (M-30) surged by Rs 5/60 per quintal to Rs 2,801/2,896 from its overnight closing level of Rs 2,741/2,891.
Small sugar (S-30) also rose by Rs 11/29 per quintal to Rs 2,752/2,800 as against Rs 2,741/2,771 yesterday.
The following are today's closing rates per quintal, with the previous rates in brackets:
Medium sugar (M-30) quality Rs 2,801/2,896 (Rs 2,741/ 2,891) and Small sugar (S-30) quality Rs 2,752/2,800 (Rs 2,741/2,771)