Informist, Monday, Jan 24, 2022

By Preeti Bhagat

NEW DELHI – Ex-mill prices of sugar in all key wholesale markets across the country fell today due to poor demand from bulk industrial buyers, traders said.

* "Sugar is not getting lifted because demand is not there due to COVID-19 restrictions in place... most events have been cancelled which has affected consumption," an official with a leading Uttar-Pradesh based sugar company said.

* Following are the highlights of sugar trade in the domestic market:

  (Changes in price per 100 kg)

  --Down 10 rupees at 3,500 rupees in Muzaffarnagar

  --Down 10 rupees at 3,421 rupees in Delhi

  --Down 10 rupees at 3,450 rupees in Kolhapur

  --Down 10 rupees at 3,670 rupees in Mumbai

* On the Intercontinental Exchange, the most-active March contract of raw sugar was down 0.7% at 18.76 cents per pound.

* "Broad-based weakness in financial markets had prompted some investors to take profit after the March contract climbed to a three-week high of 19.29 cents on Thursday," Brecorder.com said in a note.  End

US$1 = 74.56 rupees

Edited by Avishek Dutta 

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