Informist, Tuesday, Jan 4, 2022
By Preeti Bhagat
NEW DELHI – Ex-mill prices of sugar in key wholesale markets across north India rose today because of absence of selling pressure and a slight pick-up in demand, traders said.
* “Mills are not facing selling pressure currently, so they have increased prices towards the beginning of the month. If demand doesn’t sustain at these levels, prices may fall going ahead,” said Delhi-based trader Naresh Gupta.
* Prices were steady in Maharashtra today because of parity in demand and supply, an official with Bombay Sugar Merchants’ Association said.
* Following are the highlights of sugar trade in the domestic market:
(Changes in price per 100 kg)
–Up 10 rupees at 3,660 rupees in Muzaffarnagar
–Up 10 rupees at 3,685 rupees in Delhi
–Flat at 3,475 rupees in Kolhapur
–Flat at 3,692 rupees in Mumbai
* On the Intercontinental Exchange, the most-active March contract of raw sugar was at 18.80 cents per pound, up 0.3% from the previous close.
* Prices rose because of declining stocks amid a global deficit in 2021-22 (Oct-Sep) season, dealers said. End
US$1 = 74.55 rupees
Edited by Shirsha Thakur
Cogencis news is now Informist. 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.
Informist Media Tel +91 (11) 4220-1000
Send comments to [email protected]
© Informist Media Pvt. Ltd. 2022. All rights reserved.
Source: Cogencis
