Informist, Friday, Apr 1, 2022
By Preeti Bhagat
NEW DELHI – The ex-mill prices of sugar in key wholesale markets across the country rose today for the second straight day, as the monthly sales quota allocated by the government for April was lower compared to expected demand, dealers said.
* The government has set the limit for sale of sugar by mills at 2.20 mln tn for April, up from 2.15 mln tn set in March, according to a notification.
* “Mills increased sugar prices today, but demand in north was not there at higher rates… It will take 1-2 days to see what direction the market takes,” said Naresh Gupta, a dealer based in Delhi.
* Following are the highlights of sugar trade in the domestic market:
(Changes in price per 100 kg)
–Up 10 rupees at 3,540 rupees in Muzaffarnagar
–Up 10 rupees at 3,510 rupees in Delhi
–Up 50 rupees at 3,475 rupees in Kolhapur
–Up 20 rupees at 3,672 rupees in Mumbai
* On the Intercontinental Exchange, the most-active May contract of raw sugar was flat at 19.49 cents per pound.
* “Sugar remains beholden to energy prices and looks well-supported overall, though weakness in white sugar prices could eventually weigh on raws,” website Brecorder said in a note. End
Edited by Vandana Hingorani
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