Informist, Monday, May 8, 2023
By Afra Abubacker
MUMBAI – Ex-mill prices of sugar were mixed in the key wholesale markets of north India today, while prices remained flat in Maharashtra, dealers said.
Sugar prices fell in west Uttar Pradesh due to subdued demand, while they rose in central Uttar Pradesh due to firm demand, said Naresh Gupta, an Uttar Pradesh-based trader.
Sugar prices are likely to remain range-bound in Maharashtra, said Mukesh Kuvadia, secretary of Bombay Sugar Merchants Association.
According to media reports, the Centre is set to ban sugar exports amid lower production in the country. However, with the export quota set at 6.1 mln tn for 2022-23 (Oct–Sep), and 5.8 mln tn so far dispatched, there is hardly 300,000 tn left in the quota. And in view of lower production, the market was not expecting any additional export quota, said Kuvadia.
Following are the highlights of sugar trade in the domestic market:
–Down 5 rupees at 3,550-35,600 rupees per 100 kg in Muzaffarnagar
–Down 5 rupees at 3,580-3,650 rupees per 100 kg in Delhi
–Flat at 3,525-3,545 rupees per 100 kg in Kolhapur
–Flat at 3,425-3,450 rupees per 100 kg in Mumbai
Prices of sugar futures on the ICE were unavailable today, as the market was shut today on account of the coronation of King Charles III. End
Edited by Vidhi Verma
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Source: Cogencis
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