Informist, Monday, Feb 14, 2022
By Preeti Bhagat
NEW DELHI – Ex-mill prices of sugar rose today in key wholesale markets of north India because of an uptick in demand at lower price levels, dealers said.
* “If momentum of demand continues this week then prices may get a boost… Pipeline was empty, so people are buying,” said Naresh Gupta, a Delhi-based dealer.
* Absence of fresh triggers kept prices steady in Maharashtra today, said Mukesh Kuvadia, secretary of Bombay Sugar Merchants’ Association.
* Following are the highlights of the sugar trade in the domestic market:
(Changes in price per 100 kg)
–Up 25-30 rupees at 3,460 rupees in Muzaffarnagar
–Up 25-30 rupees at 3,425 rupees in Delhi
–Flat at 3,350 rupees in Kolhapur
–Flat at 3,542 rupees in Mumbai
* On the Intercontinental Exchange, the most-active May contract of raw sugar rose 0.2% to 17.84 cents per pound.
* “…looked at world consumption from every angle and came to the conclusion, that it is growing slightly faster than population at about 1% per annum,” UK-based brokerage Marex Spectron said in a report. End
Edited by Arshad Hussain
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
