Login ID:
Password:
Partner Login
Contact Us : 7066511911

Sugar Improves in Kolkata amid Talks on Oct Quota, Selling Price; Softens in Mumbai

23 Sep 2021 7:18 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

NEW DELHI, Sept 23 (Commoditiescontrol) - The demand for sugar appeared to be improving in East and North India on Thursday, with the sweetener quoted higher by Rs 20-30 per quintal in the wholesale market of Kolkata. The mills in the eastern and northern states increased the factory rate by Rs 10-15. However, wholesale prices in Delhi remained at the previous level. According to traders, there was a slight rise in the market amid talks on quota for the next month and minimum selling price (MSP).

Sugar remained stable in the southern and western states amid signs of an improvement in demand. But sugar in Mumbai was trading with a decline.

In Kolkata, the main center of eastern India, the prices of sugar were increased by Rs 20-30. The wholesale price got support due to increase in the selling rate of the mills. Trade sources said that the quota for the next month, i.e. October is not going to be more than 23 lakh tonnes as of last October 2020. Due to this the mills got signals of bullishness. There was another discussion in the market that the government may increase the MSP to Rs 35 per quintal, which also strengthened the market sentiments.

However, a Kolkata-based trader said that these discussions can also be just a trick to increase the price. There is no sign of increasing customer interest in the market.

Mills across North India, including Delhi and Uttar Pradesh, today increased the factory rate of sugar by Rs 10-15 per quintal. However, according to trade sources in Delhi, support from the demand is not at all. Therefore, there was no increase in the wholesale price. Sugar was sold at the previous price in all the markets of Delhi and UP.

The prices of sugar remained stable in the markets of western and southern states. The mills did not change the factory rate. But according to trade sources, demand for sugar in the markets has started improving. However, the demand is not strong enough to increase the price. But today S-grade sugar sold down by Rs 12 in Mumbai Vashi wholesale market. The price on Mumbai Naka was also reduced by Rs 10.

Mills of Maharashtra and the states adjoining the port are selling raw sugar to the exporters at the rate of Rs 3050-3100 per quintal. In the overseas markets, the rise in crude oil and the softening of the US dollar kept the sweetener firm. ICE October raw sugar rose 0.36 cents, or 1.9 per cent, to 19.33 cents a pound. December white sugar futures rose $7 (1.4 per cent) to $508.20 a tonne.



Market

Grade

23-Sep

22-Sep

Change

Delhi

M-31

4030-4130

4030-4130

0

(Including GST)

S-31

4010-4110

4010-4110

0

Muzaffarnagar (UP)

M-31

3970-4070

3970-4070

0

(Including GST)

S-31

3950-4050

3950-4050

0

Bareilly (UP)

M-31

4000-4100

4000-4100

0

(Including GST)

S-31

3980-4080

3980-4080

0

Kanpur (UP)

M-31

4030-4130

4030-4130

0

(Including GST)

S-31

4010-4110

4010-4110

0

Mumbai-Vashi

M-30

3602-3822

3602-3822

0

GST Extra

S-30

3560-3672

3572-3672

-12

Mumbai-Naka

M-30

3485-3610

3495-3620

-10

GST Extra

S-30

3410-3460

3420-3470

-10

Kolhapur (Maha)

M-30

3430-3490

3430-3490

0

GST Extra

S-30

3380-3430

3380-3430

0

Hyderabad (Tel.)

M-30

3480-3530

3480-3530

0

GST Extra

S-30

3450-3480

3450-3480

0

Bangaluru (Ktk)

M-30

3630-3660

3630-3660

0

GST Extra

S-30

3580-3600

3580-3600

0

Chennai (TN)

M-30

3730-3760

3730-3760

0

GST Extra

S-30

3700-3730

3700-3730

0

Kolkata Ex-Rly Siding

M-31

4020-4070

4000-4050

20

(Including GST)

S-31

3950-3975

3920-3950

30

(By Commoditiescontrol Bureau: +91-22-40015505)


       
  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated
0.0

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  
   

Top | Post Comment  

Latest Market Commentary
Sugar (LIFFE) – Correction Underway / Next Support at $...
Sugar (ICE) – Weak Price Trend / Next Support at $18.25...
Gur market witnesses slack demand at higher prices
ICE raw sugar futures scaled up amid higher crude oil
Sugar Prices Mostly Unchanged, Demand Likely to be Scat...
more
Top 5 News
Domestic Tur widen losses at selective mkts, Burma vari...
Wheat down in West UP as Diwali Demand Ends Early, Flat...
Evening: Cotton prices soften by Rs 20-30/maund in Nort...
Cardamom prices drop on higher arrival
NR : Global market up, domestic market steady
Top 5 Special Reports
Argentina’s wheat, barley production estimated unchang...
Week Ahead: Pulses Prices to head southward amid sellin...
Weekly: ICE cotton futures edge higher amid increased d...
Government has lost revenue without the consumers getti...
Canada's 2021-22 Canola Exports may Fall 38% y/y to 6.5...
Copyright © CC Commodity Info Services LLP. All rights reserved.