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India Sugar: Up in Maharashtra as May sales quota seen insufficient

Informist, Monday, May 2, 2022

 

By Preeti Bhagat

 

NEW DELHI – Ex-mill prices of sugar were higher in key wholesale markets across Maharashtra today, while they were flat in north India due to a lack of fresh triggers, dealers said.

 

* “There is anticipation that demand will pick up due to soaring temperatures and the sales quota for May may not be sufficient to meet the rising demand,” said Mukesh Kuvadia, secretary, Bombay Sugar Merchants Association.

 

* The government has set the limit for sale of sugar by mills at 2.25 mln tn in May, up from 2.20 mln tn set for April, according to a notification.

 

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

  (Changes in price per 100 kg)

  –Flat at 3,620 rupees in Muzaffarnagar

  –Flat at 3,540 rupees in Delhi

  –Up 15-20 rupees at 3,400 rupees in Kolhapur

  –Up 15-20 rupees at 3,705 rupees in Mumbai

 

* Prices of raw sugar were unavailable on the Intercontinental Exchange as it was shut on account of May Day.  End

 

Edited by Aditya Sakorkar

 

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.

 

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© Informist Media Pvt. Ltd. 2022. All rights reserved.

Source: Cogencis

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