Informist, Monday, Jan 2, 2023
By Puja Das
NEW DELHI – Ex-mill prices of sugar fell in the key markets of north India as demand remained sluggish, while they were steady in Maharashtra, dealers said.
* Prices may fall further this week in north India. They are likely to go up from next week in anticipation of improved demand ahead of Sankranti, Pongal and beginning of the wedding season, said Naresh Gupta, an Uttar Pradesh-based dealer.
* In Maharashtra, prices may rise by 15-20 rupees per 100 kg because of pick-up in demand for Sankranti and Pongal, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association.
* Overall in January, prices are unlikely to see any sharp movement either way, analysts said.
Following are the highlights of sugar trade in the domestic market:
–Down 10-15 rupees at 3,400-3,495 rupees per 100 kg in Muzaffarnagar
–Down 10-15 rupees at 3,480-3,545 rupees per 100 kg in Delhi
–Unchanged at 3,280-3,390 per 100 kg in Kolhapur
–Unchanged at 3,452-3,612 rupees per 100 kg in Mumbai
* Prices of the commodity on the Intercontinental Exchange were unavailable as the exchange was shut on account of New Year holiday. End
Edited by Vandana Hingorani
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