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Informist, Monday, Aug 19, 2024

By Taniva Singha Roy

MUMBAI – Ex-mill prices of sugar in the key markets of Uttar Pradesh were steady today after being on a downtrend for the past few days, said traders. Demand for the commodity improved slightly after prices fell significantly during the previous few days, they said. 

Mills across Uttar Pradesh kept prices steady today after lowering rates by 100–110 rupees per 100 kg in the previous few days, said Naraesh Gupta, a local trader from north India. Prices have fallen significantly and are likely to stabilise at the current levels, said Gupta. Prices in the resale markets were also steady today, he added.

Mills across the country raised prices as the quota of 2.2 mln tn for August was considered insufficient, but unsold stocks from the previous month offset fears of reduced sugar availability this month, Gupta said.

Sweetener prices in the key markets of Maharashtra were unavailable today as they were shut on account of Raksha Bandhan, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association. 

The following are the highlights of sugar prices in the domestic market today:

-Flat at 3,870-3,860 rupees per 100 kg in central Uttar Pradesh

-Flat at 3,780-3,860 rupees per 100 kg in western Uttar Pradesh

At 1657 IST, sugar prices on the Intercontinental Exchange were steady at 18.04 cents today.  End

US$1 = 83.87 rupees

Edited by Manisha Baxla

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