Informist, Monday, Nov 15, 2021
By Preeti Bhagat
NEW DELHI – Ex-mill prices of sugar in key wholesale markets across the country fell today because of pressure of new sugar being made by mills in India amid weak demand, traders said.
* “Demand is expected to come by month-end now as all major festivals are over and winter season is also setting in,” said Mukesh Kuvadia, secretary of Bombay Sugar Merchants’ Association.
* Following are the highlights of sugar trade in the domestic market today:
(Changes in price per 100 kg)
–Down 10 rupees at 3,600 rupees in Muzaffarnagar
–Down 10 rupees at 3,580 rupees in Delhi
–Down 10 rupees at 3,490 rupees in Kolhapur
–Down 10 rupees at 3,702 rupees in Mumbai
* On the Intercontinental Exchange, the most-active March contract was at 20.04 cents per pound, up 0.15% from the previous close.
* “…seen the market swing around within the range based primarily upon macro factors, and while these continue to dominate with coffee in particular bringing strength to the softs sector,” UK-based trading firm Czarnikow said in a note. End
US$1 = 74.48 rupees
Edited by Avishek Dutta
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Source: Cogencis
