Informist, Tuesday, Jan 3, 2023
By Puja Das
NEW DELHI – Ex-mill prices of sugar fell further today in key markets of north India due to rising selling pressure amid weak demand, dealers said.
* "Prices fell further in west Uttar Pradesh as mills are trying to sell their allocated quota as much as they can amid sluggish demand," said Naresh Gupta, a local trader.
* Prices may go up by 30-40 rupees per 100 kg in north India from Jan 10 due to expectations of improved demand for Sankranti and Pongal, Gupta said.
* In Maharashtra, prices are likely to remain steady this month due to moderate demand and ample supply, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association.
Following are the highlights of sugar trade in the domestic market:
--Down 10-15 rupees at 3,390-3,480 rupees per 100 kg in Muzaffarnagar
--Down 10-15 rupees at 3,470-3,530 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
* On the Intercontinental Exchange, the most-active March contract of raw sugar was down 0.8% at 19.88 cents on news of India's higher sugar production in Oct-Dec. India is the top producer of the soft commodity.
* Mills in India produced 12.1 mln tn sugar in Oct-Dec, 3.7% higher than the production in the year-ago period, the Indian Sugar Mills Association said today. End
Edited by Vidhi Verma
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Informist, Tuesday, Jan 3, 2023
By Puja Das
NEW DELHI – Ex-mill prices of sugar fell further today in key markets of north India due to rising selling pressure amid weak demand, dealers said.
* "Prices fell further in west Uttar Pradesh as mills are trying to sell their allocated quota as much as they can amid sluggish demand," said Naresh Gupta, a local trader.
* Prices may go up by 30-40 rupees per 100 kg in north India from Jan 10 due to expectations of improved demand for Sankranti and Pongal, Gupta said.
* In Maharashtra, prices are likely to remain steady this month due to moderate demand and ample supply, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association.
Following are the highlights of sugar trade in the domestic market:
--Down 10-15 rupees at 3,390-3,480 rupees per 100 kg in Muzaffarnagar
--Down 10-15 rupees at 3,470-3,530 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
* On the Intercontinental Exchange, the most-active March contract of raw sugar was down 0.8% at 19.88 cents on news of India's higher sugar production in Oct-Dec. India is the top producer of the soft commodity.
* Mills in India produced 12.1 mln tn sugar in Oct-Dec, 3.7% higher than the production in the year-ago period, the Indian Sugar Mills Association said today. End
Edited by Vidhi Verma
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (22) 6985-4000 /+91 (11) 4220-1000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2023. All rights reserved.
