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Tuesday, October 4, 2022

India Sugar: Unchanged across north; unavailable in Maharashtra

Informist, Thursday, Aug 11, 2022


By Puja Das

NEW DELHI – Ex-mill prices of sugar were unchanged from Wednesday in all key wholesale markets of north India today, dealers said. Markets in Maharashtra were closed today on account of Raksha Bandhan.


* Prices were flat across north Indian markets because of parity between demand and sales, said a Delhi-based trader Naresh Gupta.


* In north India, prices of the sweetener are unlikely to move due to lack of fresh triggers amid holidays for Raksha Bandhan and Independence Day, Gupta said.


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

  (Changes in price per 100 kg)

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

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

  –Unavailable in Kolhapur

  –Unavailable in Mumbai


* On the Intercontinental Exchange, the most active October contract of raw sugar was down 0.1% at 18.27 cents per pound as India has given nod to export another 1.2 mln tn of the sweetener, taking the total quantity to be exported for th sugar season to 11.2 mln tn.


* Since Jun 1, the Indian government has restricted the export of raw and refined sugar to 10 mln tn to ensure availability of the sweetener in the domestic market and to curb the rise in prices. End



Edited by Deepshikha Bhardwaj



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Source: Cogencis

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