Informist, Wednesday, Oct 13, 2021
By Preeti Bhagat
NEW DELHI – Ex-mill prices of sugar in the key wholesale markets in north India were down today as mills faced selling pressure amid weak demand, traders said.
* “Some buyers who bought sugar earlier are not keen on lifting their stocks which has forced mills to reduce prices and sell in the market,” said Naresh Gupta, a Delhi-based dealer.
* Prices were unchanged in Maharashtra today because of lack of fresh cues.
* Following are the highlights of sugar trade in the domestic market today:
(Changes in price per 100 kg)
–Down 15-20 rupees at 3,740 rupees in Muzaffarnagar
–Down 15-20 rupees at 3,710 rupees in Delhi
–Flat at 3,605 rupees in Kolhapur
–Flat at 3,812 rupees in Mumbai
* On the Intercontinental Exchange, the most-active March contract of raw sugar was trading lower due to weak sentiment in the wider financial markets.
* The contract was trading at 19.99 cents per pound, down 0.4% from the previous close.
* “A sell-off in global equities… on signs that soaring energy prices have put a dampener on economic growth, triggering fears over sustained inflation and policy tightening,” website Brecorder.com said in a report. End
US$1 = 75.37 rupees
Edited by Pranav S. Joshi
Cogencis news is now Informist. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (11) 4220-1000
Send comments to [email protected]
© Informist Media Pvt. Ltd. 2021. All rights reserved.