Informist, Monday, Feb 14, 2022

By Preeti Bhagat

NEW DELHI - Ex-mill prices of sugar rose today in key wholesale markets of north India because of an uptick in demand at lower price levels, dealers said.

* "If momentum of demand continues this week then prices may get a boost... Pipeline was empty, so people are buying," said Naresh Gupta, a Delhi-based dealer.

* Absence of fresh triggers kept prices steady in Maharashtra today, said Mukesh Kuvadia, secretary of Bombay Sugar Merchants' Association.

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

  (Changes in price per 100 kg)

  --Up 25-30 rupees at 3,460 rupees in Muzaffarnagar

  --Up 25-30 rupees at 3,425 rupees in Delhi

  --Flat at 3,350 rupees in Kolhapur

  --Flat at 3,542 rupees in Mumbai

* On the Intercontinental Exchange, the most-active May contract of raw sugar rose 0.2% to 17.84 cents per pound.

* "...looked at world consumption from every angle and came to the conclusion, that it is growing slightly faster than population at about 1% per annum," UK-based brokerage Marex Spectron said in a report.  End

Edited by Arshad Hussain

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