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India Sugar: Flat across all markets, hits nearly 2-week high on ICE

Informist, Wednesday, Aug 10, 2022

 

By Puja Das

 

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

 

* Demand is unlikely to improve as markets across north India will be shut till Monday on account of Raksha Bandhan and Independence Day, Gupta said.

 

* Prices in Maharashtra may increase 10-30 rupees per 100 kg after Aug 20 because of likely higher demand ahead of Ganesh Chaturthi, Kuvadia said.

 

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

  (Changes in price per 100 kg)

  –Flat at 3,520-3,550 rupees in Muzaffarnagar

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

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

  –Flat 3,552-3,622 rupees in Mumbai

 

* On the Intercontinental Exchange, the most-active October contract of raw sugar hit a nearly two-week-high of 18.23 cents per pound, up 1.4% from the previous close, 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 two and a half months.  End

 

Edited by Avishek Dutta

 

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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