Informist, Thursday, Sep 15, 2022
By Puja Das
NEW DELHI – Ex-mill prices of sugar fell in all key wholesale markets of north India today because of tepid demand amid rising selling pressure. However, prices of the sweetener remained flat in Maharashtra due to demand-supply parity, dealers said.
* Selling pressure by mills is increasing as they have to exhaust their monthly sales quota for September, while festival demand has not picked up yet, said Naresh Gupta, a trader in Delhi.
* Prices in Maharashtra are likely to fall by 5-10 rupees per 100 kg within a week due to tepid demand amid Pitru Paksha, which will end on Sep 25, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association.
* Pitru Paksha is a 16–day period when Hindus pay homage to their ancestors.
Following are the highlights of the sugar trade in domestic markets:
(Changes in price per 100 kg)
--Down 10 rupees at 3,520-3,550 rupees in Muzaffarnagar
--Down 5-10 rupees at 3,450-3,550 rupees in Delhi
--Flat at 3,440-3,480 rupees in Kolhapur
--Flat at 3,550-3,645 rupees in Mumbai
* On the Intercontinental Exchange, price of raw sugar rose 0.4% to 18.34 cents per pound due to likely lower output of the sweetener crop in top producer Brazil in the coming year.
* In Brazil's central and southern regions, sugar crop output in the 2022-23 marketing year is seen down 10.5% on year at 21.8 mln tn, UNICA said in a report. End
Edited by Aditya Sakorkar
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.
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Informist, Friday, Mar 11, 2022
By Puja Das
NEW DELHI – Ex-mill prices of sugar in the key wholesale markets across north India fell today due to weak bulk demand, traders said.
* "Mills want to sell, but buyers are less because wholesalers have already stocked up the sweetener ahead of the Holi festival," said Naresh Gupta, a Delhi-based dealer.
* However, prices of sugar remained steady across major markets of Maharashtra on demand-supply parity, said an official with Bombay Sugar Merchants' Association.
* Following are highlights of sugar trade in the domestic market:
(Changes in price per 100 kg)
--Down 20-25 rupees at 3,460 rupees in Muzaffarnagar
--Down 20 rupees at 3,450 rupees in Delhi
--Flat at 3,360 rupees in Kolhapur
--Flat at 3,642 rupees in Mumbai
* On the Intercontinental Exchange, the most active May contract of raw sugar was down 0.5% at 19.02 cents per pound.
* "Whether sugar ought to trade as nearproxy for oil is questionable. The link between the two is far from automatic, given the heavy regulation of the link from Brazil," Commonwealth Bank of Australia said.
End
Edited by Maheswaran Parameswaran
Cogencis news is now Informist. 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.
Informist, Thursday, Sep 15, 2022
By Puja Das
NEW DELHI – Ex-mill prices of sugar fell in all key wholesale markets of north India today because of tepid demand amid rising selling pressure. However, prices of the sweetener remained flat in Maharashtra due to demand-supply parity, dealers said.
* Selling pressure by mills is increasing as they have to exhaust their monthly sales quota for September, while festival demand has not picked up yet, said Naresh Gupta, a trader in Delhi.
* Prices in Maharashtra are likely to fall by 5-10 rupees per 100 kg within a week due to tepid demand amid Pitru Paksha, which will end on Sep 25, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association.
* Pitru Paksha is a 16–day period when Hindus pay homage to their ancestors.
Following are the highlights of the sugar trade in domestic markets:
(Changes in price per 100 kg)
--Down 10 rupees at 3,520-3,550 rupees in Muzaffarnagar
--Down 5-10 rupees at 3,450-3,550 rupees in Delhi
--Flat at 3,440-3,480 rupees in Kolhapur
--Flat at 3,550-3,645 rupees in Mumbai
* On the Intercontinental Exchange, price of raw sugar rose 0.4% to 18.34 cents per pound due to likely lower output of the sweetener crop in top producer Brazil in the coming year.
* In Brazil's central and southern regions, sugar crop output in the 2022-23 marketing year is seen down 10.5% on year at 21.8 mln tn, UNICA said in a report. End
Edited by Aditya Sakorkar
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.
