Informist, Thursday, Sep 8, 2022
By Puja Das
NEW DELHI – Ex-mill prices of sugar were flat in all key wholesale markets of India today because of parity between demand and supply, dealers said.
* "Mills across Maharashtra have prevailed the same rates for the past few days due to poor purchasing power," said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association.
* However, demand for the sweetener in Maharashtra is likely to be tepid ahead of Pitru Paksha from Saturday to Sep 25. This may result in a fall of 5-10 rupees per 100 kg in prices from next week, Kuvadia said.
* Demand may improve once Pitru Paksha, a 16–day period when Hindus pay homage to their ancestors, is over, he said.
* Mills in north India may lower prices if demand does not improve in the next two days, said Naresh Gupta, a trader in Delhi.
Following are the highlights of the sugar trade in domestic markets:
(Changes in price per 100 kg)
--Unchanged at 3,490-3,530 rupees in Muzaffarnagar
--Unchanged at 3,430-3,4565 rupees in Delhi
--Unchanged at 3,430-3,490 rupees in Kolhapur
--Unchanged at 3,522-3,662 rupees in Mumbai
* On the Intercontinental Exchange, the price of raw sugar was down 0.4% at 17.98 cents per pound as exports of the sweetener by top producer Brazil increased.
* Brazil's raw sugar exports rose 30% on year to 150,580 tn in August, data from the country's trade ministry showed.
* Around 86 vessels are currently loading 3.6 mln tn raw sugar at Brazilian ports, according to website Nasdaq.com, which quoted data from shipping agency Williams. End
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 (11) 4220-1000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2022. All rights reserved.
Informist, Thursday, Sep 8, 2022
By Puja Das
NEW DELHI – Ex-mill prices of sugar were flat in all key wholesale markets of India today because of parity between demand and supply, dealers said.
* "Mills across Maharashtra have prevailed the same rates for the past few days due to poor purchasing power," said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association.
* However, demand for the sweetener in Maharashtra is likely to be tepid ahead of Pitru Paksha from Saturday to Sep 25. This may result in a fall of 5-10 rupees per 100 kg in prices from next week, Kuvadia said.
* Demand may improve once Pitru Paksha, a 16–day period when Hindus pay homage to their ancestors, is over, he said.
* Mills in north India may lower prices if demand does not improve in the next two days, said Naresh Gupta, a trader in Delhi.
Following are the highlights of the sugar trade in domestic markets:
(Changes in price per 100 kg)
--Unchanged at 3,490-3,530 rupees in Muzaffarnagar
--Unchanged at 3,430-3,4565 rupees in Delhi
--Unchanged at 3,430-3,490 rupees in Kolhapur
--Unchanged at 3,522-3,662 rupees in Mumbai
* On the Intercontinental Exchange, the price of raw sugar was down 0.4% at 17.98 cents per pound as exports of the sweetener by top producer Brazil increased.
* Brazil's raw sugar exports rose 30% on year to 150,580 tn in August, data from the country's trade ministry showed.
* Around 86 vessels are currently loading 3.6 mln tn raw sugar at Brazilian ports, according to website Nasdaq.com, which quoted data from shipping agency Williams. End
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 (11) 4220-1000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2022. All rights reserved.
