Informist, Monday, Mar 7, 2022

By Preeti Bhagat

NEW DELHI - Ex-mill prices of sugar in the key wholesale markets across north India fell marginally today, while lack of fresh triggers kept prices steady in Maharashtra, said Mukesh Kuvadia, secretary, Bombay Sugar Merchants' Association.

* "Prices reacted as markets had risen significantly last week, so even as demand was there for Holi, prices were marginally down today," said Naresh Gupta, a Delhi-based dealer.

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

  (Changes in price per 100 kg)

  --Down 5 rupees at 3,520 rupees in Muzaffarnagar

  --Down 5 rupees at 3,530 rupees in Delhi

  --Flat at 3,380 rupees in Kolhapur

  --Flat at 3,652 rupees in Mumbai

* On the Intercontinental Exchange, the most active May contract of raw sugar was up 2.2% at 19.78 cents per pound.

* Prices hit an over three-month high of 19.89 cents per pound today because of robust buying by fund houses amid a spike in global crude oil prices.

* Rising energy prices prompt cane mills in top producer Brazil to divert production to ethanol over sugar.  End

Edited by Maheswaran Parameswaran

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