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Tuesday, October 4, 2022

India Sugar: Flat across mkts; rises on ICE on likely low output

Informist, Friday, Aug 5, 2022

 

By Puja Das

 

NEW DELHI – Ex-mill prices of sugar were flat in all key wholesale markets of India today because of a parity in demand and sales, said Delhi-based trader Naresh Gupta.

 

* “It is difficult to anticipate whether prices of the sweetener across north India would go up next week in view of the weak demand at present,” Gupta said.

 

* “Prices in Maharashtra are likely to be in a thin range till the festival season begins. They may go up after Aug 20 due to improved demand ahead of Ganesh Chaturthi,” said Mukesh Kuvadia, secretary, Bombay Sugar Merchants Association.

 

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

  (Changes in price per 100 kg)

  –Flat at 3,500-3,530 rupees in Muzaffarnagar

  –Flat at 3,465-3,510 rupees in Delhi

  –Flat at 3,460-3,495 rupees in Kolhapur

  –Flat 3,522-3,622 rupees in Mumbai

 

* On the Intercontinental Exchange, the most-active October contract of raw sugar was 0.6% higher at 17.65 cents per pound due to concerns over lower output amid dry weather in top producer Brazil, dealers said.

 

* Some regions of Brazil have not received any rains in the past 75 days. End

 

 

Edited by Namrata Rao

 

 

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

 

Source: Cogencis

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