Informist, Thursday, Jun 9, 2022
By Preeti Bhagat
NEW DELHI – Ex-mill prices of sugar were down today in all key wholesale markets, barring Delhi where those were unchanged, because of weak off-take and higher production in the ongoing season, said a Delhi-based trader Naresh Gupta.
* “Freight rates have come down in Maharashtra so that benefit is being passed on to the consumers naturally,” said Mukesh Kuvadia, secretary, Bombay Sugar Merchants Association.
* Following are the highlights of sugar trade in domestic markets:
(Changes in price per 100 kg)
–Down 10 rupees at 3,430-3,460 rupees in Muzaffarnagar
–Unchanged at 3,470-3,525 rupees in Delhi
–Down 5 rupees at 3,320-3,380 rupees in Kolhapur
–Down 5 rupees at 3,480-3,592 rupees in Mumbai
* On the Intercontinental Exchange, the most active October contract of raw sugar was up 0.1% at 19 cents per pound.
* Prices rose slightly as investors covered their short positions after the contract hit a one-month low of 18.84 cents on Wednesday. End
US$1 = 77.77 rupees
Edited by Deepshikha Bhardwaj
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