Informist, Monday, Mar 27, 2023
By Afra Abubacker
MUMBAI – Ex-mill prices of sugar in key wholesale markets across India rose today as most mills have exhausted their March sales quotas, dealers said.
Sugar prices rose today due to firm demand and lower supply. Only four days are left for the month-end and mills have largely met their monthly sales quotas, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association.
The government is expected to release the April sales quota between Mar 30 and 31, said Naresh Gupta, an Uttar Pradesh-based trader.
Following are the highlights of sugar trade in the domestic market:
–Up 20–30 rupees at 3,410-3,470 rupees per 100 kg in Muzaffarnagar
–Up 20–30 rupees at 3,460-3,510 rupees per 100 kg in Delhi
–Up 5 rupees at 3,315-3,395 rupees per 100 kg in Kolhapur
–Up 5 rupees at 3,451-3,611 rupees per 100 kg in Mumbai
At 1553 IST, the most-active May contract of raw sugar on the Intercontinental Exchange was up 0.86% at 21 cents per pound. The gains were tracking a rise in crude oil contracts on the NYMEX.
A rise in crude oil prices prompts sugar mills in Brazil, the second-largest producer of sugarcane, to divert less cane towards production of sugar and more towards ethanol. End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
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 (22) 6985-4000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2023. All rights reserved.
Informist, Sunday, Oct 1, 2023–India Sep total GST collections up 10% on year –States' Sep GST revenue post-settlement 652 bln rupees –Centre's Sep GST revenue post-settlement 636 bln rupees –India Sep GST cess mop-up 116 bln rupees vs 117 bln Aug –India Sep Integrated GST mop-up 836 bln rupees vs 833 bln Aug –India Sep State GST mop-up 377 bln […]
Informist, Saturday, Sep 30, 2023 –RBI: Issue Offices to exchange 2,000-rupee notes up to 20,000 rupees –RBI: 19 RBI Issue Offices to exchange 2,000-rupee note from Oct 8 –RBI: Extended facility to return, withdraw 2,000-rupee note till Oct 7 –RBI: Banks received 3.42 trln rupees in 2,000-rupee notes till Fri NEW DELHI – The Reserve Bank of India today extended the […]
Informist, Saturday, Sep 30, 2023 –IMD: Monsoon likely to withdraw from most parts of India by Oct 15–India rainfall in Sep 13% above normal at 190 mm–Rainfall in central India 49% above normal at 264.8 mm in Sep–Rainfall in south peninsula 24% above normal at 198.9 mm in Sep–India rainfall during Jun 1-Sep 30 5.6% below normal at 820 […]
Follow Informist
