Informist, Thursday, Mar 3, 2022
By Preeti Bhagat
NEW DELHI – Ex-mill prices of sugar rose today in all key wholesale markets across the country because of higher demand from industrial buyers as summer is kicking in, said dealers.
* “Sentiment is that market will remain stable for some time because after prices rose, demand has slowed down a bit,” said Mukesh Kuvadia, secretary, Bombay Sugar Merchants’ Association.
* Following are highlights of sugar trade in the domestic market:
(Changes in price per 100 kg)
–Up 10-20 rupees at 3,550 rupees in Muzaffarnagar
–Up 10-20 rupees at 3,540 rupees in Delhi
–Up 10 rupees at 3,380 rupees in Kolhapur
–Up 10 rupees at 3,652 rupees in Mumbai
* On the Intercontinental Exchange, the most active May contract of raw sugar was trading flat at 18.64 cents per pound.
* “Funds are likely to continue buying as the Russia-Ukraine conflict looks set to escalate for the time being. They expect sell orders to pick up pace only if prices push above 19 cents,” website Nasdaq said in a note. End
Edited by Deepshikha Bhardwaj
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