India Sugar: Falls in north as production rises during Oct 1-Jan 15

Informist, Monday, Jan 17, 2022

By Preeti Bhagat

NEW DELHI – Ex-mill prices of sugar in key wholesale markets across north India were down today because of a rise in production in India, traders said. This has put pressure on supply.

* Mills in India produced 15.1 mln tn of sugar during Oct 1-Jan 15, up 6% from the year-ago period, the Indian Sugar Mills Association said in a release today.

* Prices, however, were flat in Maharashtra today because of parity between demand and supply, said Mukesh Kuvadia, secretary of Bombay Sugar Merchants Association.

* Following are the highlights of sugar trade in the domestic market:

  (Changes in price per 100 kg)

  –Down 25-30 rupees at 3,500 rupees in Muzaffarnagar

  –Down 25-30 rupees at 3,450 rupees in Delhi

  –Flat at 3,460 rupees in Kolhapur

  –Flat at 3,652 rupees in Mumbai

* Prices of raw sugar on the Intercontinental Exchange were unavailable today as the exchange was shut on account of Martin Luther King Day.  End 

US$1 = 74.24 rupees

Edited by Avishek Dutta

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Source: Cogencis