Sugar spikes on seasonal demand, supply pressure

Both the varieties of sugar prices rallied smartly at the Vashi wholesale sugar market here today following heavy offtake by stockists as well as strong upcountry enquiries amid restricted arrivals.
Small sugar (S-30) shot-up by Rs 10/40 per quintal to settle at Rs 2,486/2,622 per quintal from Monday's closing level of Rs 2,476/2,582.
Medium sugar (M-30) also rose by Rs 20/22 per quintal to end at Rs 2,622/2,722 as compared to Rs 2,602/2,700 yesterday.
Following are today's closing rates for sugar (per quintal) with the previous rates given in brackets:
Small sugar (S-30) quality: Rs 2,486/2,622 (Rs 2,476/2,582).
Medium sugar (M-30) quality: Rs 2,622/2,722 (Rs 2,602/2,700).