Informist, Monday, Dec 13, 2021
By Preeti Bhagat
NEW DELHI – Ex-mill prices of sugar were slightly higher today across key wholesale markets in Muzaffarnagar, Uttar Pradesh, because of a marginal rise in demand from domestic bulk buyers, traders said.
* Prices, however, were steady in Delhi and Maharashtra today as supply was sufficient to meet demand.
* “Mills are holding the price because they are getting good demand from overseas, so they are in no hurry to sell in the domestic market,” said Mukesh Kuvadia, secretary of Bombay Sugar Merchants’ Association.
* Following are the highlights of sugar trade in the domestic market:
(Changes in price per 100 kg)
–Up 10 rupees at 3,525 rupees in Muzaffarnagar
–Flat at 3,525 rupees in Delhi
–Flat at 3,485 rupees in Kolhapur
–Flat at 3,682 rupees in Mumbai
* On the Intercontinental Exchange, the most-active March contract was at 19.62 cents per pound, down 0.5% from the previous close.
* “The day began on a negative note, the (March contract) is continuing to be dictated by momentum in the wider commodity space,” UK-based trading firm Czarnikow said in a report. End
US$1 = 75.76 rupees
Edited by Shirsha Thakur
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Source: Cogencis
