NEW DELHI (Commoditiescontrol) –Sugar prices ruled steady in the wholesale markets of Delhi on Tuesday amid normal demand and supply while futures declined after opening firm at local bourse. Sugar futures remained bullish recently on the expectation of weak output in the current sugar season 2016-17.
The rating agency ICRA has predicted 230 lakh tonnes of sugar in the ongoing season, a fall by 9 percent from last year.
Sugar traded in the wholesale market of Delhi at Rs. 3,940-4,020/100kg while ex-mill prices of the sweetener were offered at Rs. 3,640-3,720/100kg. However, local demand was firm today, said a trader.
By 1609 IST, sugar future contract for delivery in March was Rs. 10 or o.26 percent down at Rs. 3,865 due to profit booking as it opened firm at Rs. 3,880/100kg.
(By Commoditiescontrol Bureau; +91-22-40015533)