Informist, Monday, Dec 19, 2022
By Puja Das
NEW DELHI – Ex-mill prices of sugar extended losses in key markets of India today due to poor demand amid higher selling pressure, said dealers.
* Demand is not gathering pace as compared to production of the sweetener, Uttar Pradesh-based trader Naresh Gupta said.
* Sugar production in the country rose 5.4% year-on-year to 8.2 mln tn during Oct 1-Dec 15, the Indian Sugar Mills Association said today.
* The downtrend in prices may be limited in the next three-five days, Gupta said.
Following are the highlights of sugar trade in the domestic market:
--Down 10-20 rupees at 3,430-3,490 rupees per 100 kg in Muzaffarnagar
--Down 5-10 rupees per 100 kg at 3,340-3,390 2 rupees per 100 kg in Delhi
--Down 10 rupees per 100 kg at 3,320-3,410 in Kolhapur
--Down 5 rupees at 3,532-3,632 rupees per 100 kg in Mumbai
* On the Intercontinental Exchange, the most-active March contract of raw sugar was 1.1% higher at 20.3 cents per pound in anticipation of higher sugar output in Brazil, the second-largest producer.
* Brazil's sugar production in 2022-23 is seen rising 2.8% on year to 32.9 mln tn, said Brazil's sugarcane industry association UNICA.
* The European Association of Sugar Manufacturers has said that the European Union is likely to produce 15.5 mln tn of sugar in the 2022-23 marketing year, down 7% on year. End
Edited by Avishek Dutta
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Informist, Monday, Dec 19, 2022
By Puja Das
NEW DELHI – Ex-mill prices of sugar extended losses in key markets of India today due to poor demand amid higher selling pressure, said dealers.
* Demand is not gathering pace as compared to production of the sweetener, Uttar Pradesh-based trader Naresh Gupta said.
* Sugar production in the country rose 5.4% year-on-year to 8.2 mln tn during Oct 1-Dec 15, the Indian Sugar Mills Association said today.
* The downtrend in prices may be limited in the next three-five days, Gupta said.
Following are the highlights of sugar trade in the domestic market:
--Down 10-20 rupees at 3,430-3,490 rupees per 100 kg in Muzaffarnagar
--Down 5-10 rupees per 100 kg at 3,340-3,390 2 rupees per 100 kg in Delhi
--Down 10 rupees per 100 kg at 3,320-3,410 in Kolhapur
--Down 5 rupees at 3,532-3,632 rupees per 100 kg in Mumbai
* On the Intercontinental Exchange, the most-active March contract of raw sugar was 1.1% higher at 20.3 cents per pound in anticipation of higher sugar output in Brazil, the second-largest producer.
* Brazil's sugar production in 2022-23 is seen rising 2.8% on year to 32.9 mln tn, said Brazil's sugarcane industry association UNICA.
* The European Association of Sugar Manufacturers has said that the European Union is likely to produce 15.5 mln tn of sugar in the 2022-23 marketing year, down 7% on year. End
Edited by Avishek Dutta
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 (11) 4220-1000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2022. All rights reserved.
