Informist, Monday, Oct 18, 2021
By Preeti Bhagat
NEW DELHI – Ex-mill prices of sugar fell in all key wholesale markets across the country today because of heavy rainfall, which has hit demand for the sweetener.
* The India Meteorological Department expects heavy-to-very heavy rainfall at isolated places in west Uttar Pradesh till Tuesday, and over east Uttar Pradesh today.
* Following are the highlights of sugar trade in the domestic market today:
(Changes in price per 100 kg)
–Down 15-20 rupees at 3,720 rupees in Muzaffarnagar
–Down 20 rupees at 3,650 rupees in Delhi
–Down 10 rupees at 3,650 rupees in Kolhapur
–Down 10 rupees at 3,802 rupees in Mumbai
* On the Intercontinental Exchange, the most-active March contract of raw sugar was trading 1.3% lower at 19.54 cents per pound.
* Prices hit a three-week low of 19.41 cents today as Climate Prediction Centre said La Nina conditions have developed and are expected to continue into the winter.
* “Brazilian mill groups are certainly watching this after the year they saw this last season. La Nina developing is no guarantee Brazilian cane will suffer, but it could also bring more rain to India and Thailand,” website Brecorder.com said in a report. End
US$1 = 75.34 rupees
Edited by Vandana Hingorani
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Source: Cogencis
