Informist, Monday, Mar 28, 2022

By Puja Das

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

* Bulk buyers are purchasing as per their requirement amid a rise in selling pressure, which weighed on prices in north India, said Naresh Gupta, a Delhi-based dealer.

* In Maharashtra, there is an absence of selling pressure currently, as mills have mostly met their monthly sales quota. The remaining quota will be met over the next three days.

* A movement in prices is expected only after the government releases April sales quota for mills, which is expected between Mar 30 and 31. 

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

  (Changes in price per 100 kg)

  --Down 10 rupees at 3,485 rupees in Muzaffarnagar

  --Down 10-15 rupees at 3,400 rupees in Delhi

  --Flat at 3,360 rupees in Kolhapur

  --Flat at 3,652 rupees in Mumbai

* On the Intercontinental Exchange, the most-active May contract of raw sugar was down 0.7% at 19.48 cents per pound due to improving production outlook in India, the world's second-largest producer.

* "Sugar was caught in the 18.50- to 19.50-cent range, with strong oil prices offset by rising supplies from India," the website Brecorder said in a note.  End

Edited by Namrata Rao

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