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India Sugar:Dn in north as rainfall hits demand; flat in Maharashtra

Informist, Monday, Jul 11, 2022


By Preeti Bhagat


NEW DELHI – Ex-mill prices of sugar fell in key wholesale markets of north India today, due to lower demand amid the ongoing monsoon season, a Delhi-based trader Naresh Gupta said. Rains cause moisture in the sweetener, which is why buyers avoid making large purchases and stocking during this time.


* However, prices were flat in Maharashtra due to parity between supply and demand, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association.


* “It looks like prices won’t go up in July because of rainfall all over the country,” Kuvadia said.


* “Prices are likely to remain range-bound as household demand will also fall in a few days.”


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

  (Changes in price per 100 kg)

  –Down 10-20 rupees at 3,420-3,450 rupees in Muzaffarnagar

  –Down 10-20 rupees 3,445-3,515 rupees in Delhi

  –Flat at 3,320-3,370 rupees in Kolhapur

  –Flat at 3,480-3,572 rupees in Mumbai


* On the Intercontinental Exchange, the most-active October contract of raw sugar was at 18.97 cents per pound, down 0.3% from the previous close, as investors booked profits after prices hit a one-month high of 19.15 cents per pound on Friday. 




US$1 = 79.44 rupees


Edited by Vidhi Verma


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Source: Cogencis

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