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Saturday, February 4, 2023

India Sugar:Flat across mkts, ICE prices unavailable as exchange shut

Informist, Monday, Jan 16, 2023


By Puja Das


NEW DELHI – Ex-mill prices of sugar were flat across key markets of India today as supply was sufficient to meet demand for the commodity, dealers said.


* In north India, prices stabilised after rising 30-40 rupees per 100 kg in the past two-three days, said Naresh Gupta, an Uttar Pradesh-based trader.


* Demand is seen improving on account of the wedding season from this week, though anticipating the price movement is difficult; the trend is expected to be clear in a day or two, depending on demand and selling pressure, Gupta said. 


* In Maharashtra, prices might get support from an improvement in demand when temperatures start rising from February. However, the rise in prices depends on the release of the February sales quota, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association.


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

–Unchanged at 3,390-3,470 rupees per 100 kg in Muzaffarnagar

–Unchanged at 3,460-3,510 rupees per 100 kg in Delhi

–Unchanged at 3,280-3,395 rupees per 100 kg in Kolhapur

–Unchanged at 3,452-3,612 rupees per 100 kg in Mumbai


* Raw sugar prices on the Intercontinental Exchange were not available as the exchange was shut on account of Martin Luther King Jr. holiday.  End


Edited by Avishek Dutta


For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.


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Source: Cogencis

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