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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. 



US$1 = 79.94 rupees


Edited by Michael Correya


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Source: Cogencis

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