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Wednesday, October 4, 2023

India Sugar: Unchanged, rises on ICE on likely lower global output

Informist, Tuesday, Dec 6, 2022


By Puja Das


NEW DELHI – Ex-mill prices of sugar were unchanged in the key wholesale markets of India today due to lack of fresh triggers before the end of the wedding season, dealers said.


* Prices rose in the last few days due to firm demand in view of the wedding season. Prices of the sweetener stabilised today as wedding and household demand weakened, Uttar Pradesh-based trader Naresh Gupta said.


* Sluggish demand is likely to keep sugar prices flat in Uttar Pradesh till Dec 15, Gupta said.


* Demand from soft drink companies and ice-cream makers declines during winter.


Following are the highlights of sugar trade in the domestic market:

–Unchanged at 3,480-3,580 rupees per 100 kg in Muzaffarnagar

–Unchanged at 3,780-3,822 rupees per 100 kg in Delhi

–Unchanged at 3,380-3,480 rupees per 100 kg in Kolhapur

–Unchanged at 3,546-3,652 rupees per 100 kg in Mumbai


* On the Intercontinental Exchange, the most-active March contract of raw sugar was up 0.1% at 19.57 cents per pound after media reports said global production is expected to decline.


* According to media reports, lower sugarcane yield in India, the largest producer, and delay in harvest in Thailand, the third-largest grower, may affect global production in 2022-23.  End


Edited by Ashish Shirke


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Source: Cogencis

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