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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



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Source: Cogencis

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