NEW DELHI, Jan 21 (Commoditiescontrol) - The prospect of relaxation in weekend curfew and other COVID restrictions in Delhi and several other states has raised hopes of improving sugar demand. However, due to sluggish demand, there is no movement in the prices. The mills are in the process of selling sugar at the previous price. Wholesale traders also did not change the price. In the southern and western states also, sugar remained stable.
With the corona cases decreasing in Delhi and the situation not getting worse in the northern states, it is expected that early outdoor activities will gain momentum again. The local government in Delhi has decided to ease the corona restrictions. Similar steps are being taken in other states as well. It is expected that hotels, restaurants and other outdoor activities will pick up. This may improve the demand for sugar. However, on Friday, the selling rates of most of the mills in Uttar Pradesh remained at the previous level. The demand in the wholesale market was very weak. Sugar prices remained at the previous level in all the wholesale markets including Delhi. Sugar consumption is sluggish due to severe winter. With the rise in temperature, the consumption of jaggery will decrease, and only then the demand for sugar will be expected to improve.
The trend of steadiness remained in the southern and western states as well. Mill rate and market price remained at the previous level. There is limited demand for sugar in the markets which is not supporting the sentiment. Sugar was sold down by Rs 10 in the wholesale markets of Mumbai. Prices remained stable at Mumbai Naka.
Raw sugar is being sold at Rs 3000-3050 per quintal and white sugar at Rs 3125-3175 per quintal for export in Maharashtra and adjoining states of the port. The price of sugar also declined in the overseas market due to the softening of crude oil. March New York ICE Raw Sugar fell 0.14 cents, or 0.7 per cent, to 18.93 cents a pound. March London White Sugar fell by $2.80, or 0.5 percent, to $507.30 a tonne.
Market
|
Grade
|
21-Jan
|
20-Jan
|
Change
|
Delhi
|
M-31
|
3680-3780
|
3680-3780
|
0
|
(Including GST)
|
S-31
|
3660-3760
|
3660-3760
|
0
|
Muzaffarnagar (UP)
|
M-31
|
3650-3750
|
3650-3750
|
0
|
(Including GST)
|
S-31
|
3630-3730
|
3630-3730
|
0
|
Bareilly (UP)
|
M-31
|
3660-3750
|
3660-3750
|
0
|
(Including GST)
|
S-31
|
3640-3730
|
3640-3730
|
0
|
Kanpur (UP)
|
M-31
|
3680-3780
|
3680-3780
|
0
|
(Including GST)
|
S-31
|
3660-3760
|
3660-3760
|
0
|
Mumbai-Vashi
|
M-30
|
3450-3672
|
3450-3682
|
-10
|
GST Extra
|
S-30
|
3332-3452
|
3342-3452
|
-10
|
Mumbai-Naka
|
M-30
|
3325-3495
|
3325-3495
|
0
|
GST Extra
|
S-30
|
3295-3340
|
3295-3340
|
0
|
Kolhapur (Maha)
|
M-30
|
3210-3290
|
3210-3290
|
0
|
GST Extra
|
S-30
|
3170-3320
|
3170-3320
|
0
|
Hyderabad (Tel.)
|
M-30
|
3250-3290
|
3250-3290
|
0
|
GST Extra
|
S-30
|
3220-3250
|
3220-3250
|
0
|
Bangaluru (Ktk)
|
M-30
|
3390-3440
|
3390-3440
|
0
|
GST Extra
|
S-30
|
3340-3390
|
3340-3390
|
0
|
Chennai (TN)
|
M-30
|
3510-3550
|
3510-3550
|
0
|
GST Extra
|
S-30
|
3450-3500
|
3450-3500
|
0
|
(By Commoditiescontrol Bureau: +91-22-40015505)
|