Navi Mumbai, Feb 24 (UNI) Even as the Bombay Sugar Merchants' Association today welcomed the Railway Budget decision of no change in railway frieght rate on goods, including essential commodities, the sugar prices rallied for the second consecutive day today on sustained heavy bulk consumers demand.
Association president Mohan Gurnani welcomed the Railway Minister's decision and, alongwith other traders, urged him to also reduce frieght rates, particularly that of essential commodities, due to road transport goods supply being costlier by about 25-30 per cent per tonne, as compared to railway freight.
The traders said, road goods transport depended on petrol and diesel and its prices were already hiked by the Union governemnt, which affected the essential commodities' wholesale and retail prices.
Meanwhile, the rates of small and medium grades rose by Rs 15 and Rs five per quintal, respectively, on lack of selling pressure by stockists in the face of lesser stocks supply by mills.
The rates of ex-mill, small and medium grades also were up by Rs 10 for small grade and for medium grade by Rs 30 per quintal, on increased buying support by bulk consumers, traders added.
Following were the sugar spot rates per quintal: Small grade Rs 1,890/1,946, medium grade Rs 1,905/1,965.
Ex-mill small grade Rs 1,865/1,890, medium grade Rs 1,905/1,935.
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