Informist, Tuesday, Oct 5, 2021
By Preeti Bhagat
NEW DELHI – Ex-mill prices of sugar rose in key wholesale markets of Maharashtra for the second straight day because of a sharp rise in demand ahead of festivals.
* “Future of sugar industry looks very encouraging… The domestic prices rose by 4-5 rupees per kg prior to the festive season,” Infomerics Valuation and Rating said in a report.
* Prices were unchanged in north India today because of absence of fresh cues.
* Following are the highlights of sugar trade in the domestic market today:
(Changes in price per 100 kg)
–Flat at 3,800 rupees in Muzaffarnagar
–Flat at 3,750 rupees in Delhi
–Up 30-40 rupees at 3,615 rupees in Kolhapur
–Up 30-40 rupees at 3,822 rupees in Mumbai
* On the Intercontinental Exchange, the most active March contract of raw sugar was at 19.74 cents per pound, up 0.25% from the previous close.
* “The past two weeks have seen a momentous change–the apparent return of white sugar demand and the substantial raw sugar demand in September,” UK-based brokerage Marex Spectron said in a note. End
US$1 = 74.45 rupees
Edited by Patricia Hou
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