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Thursday, October 6, 2022

India Sugar: Flat in all markets; falls 1% on ICE on profit booking

Informist, Tuesday, Jul 19, 2022

 

By Preeti Bhagat

 

NEW DELHI – The ex-mill prices of sugar were flat in all the key wholesale markets of India today because of lack of fresh triggers, said Naresh Gupta, a trader in Delhi.

 

* “Mills located in Muzaffarnagar and Khatauli are facing problems in dispatching sugar due to the ongoing Kanwar Yatra,” Gupta said.

 

* In Maharashtra, prices are likely to remain range-bound over the coming days, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association.

 

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

  (Changes in price per 100 kg)

  –Flat at 3,430-3,460 rupees in Muzaffarnagar

  –Flat at 3,445-3,525 rupees in Delhi

  –Flat at 3,330-3,375 rupees in Kolhapur

  –Flat at 3,490-3,562 rupees in Mumbai

 

* On the Intercontinental Exchange, the most-active October contract of raw sugar was down 1.1% at 19.20 cents per pound today as investors booked profits after prices hit a six-week high of 19.59 cents per pound on Monday. 

End

 

US$1 = 79.94 rupees

 

Edited by Michael Correya

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. 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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Source: Cogencis

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