Login ID:
Partner Login
Contact Us : 7066511911

ICE Raw Sugar Leaves the Week on Sweeter Note; Hits 9-Month High

7 Dec 2019 8:17 am
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

Mumbai (Commodities Control) - March raw sugar was up 0.07 cents, or 0.5%, at 13.15 cents per lb after rising to a peak of 13.19 cents, the highest since late February.

March white sugar rose $2.00, or 0.6%, to $347.30 a tonne.According to the dealers, funds continue to cover net short positions amid tightening supplies, adding that momentum remained to the upside even if producer-selling of excess stocks would slow the advance.
Producer-selling currently sits above 13.18 cents.

A global sugar deficit is widely forecast for the current 2019/20 season and there are some signs there could also be a deficit in 2020/21.

The Indian Sugar Mills Association reported that all India sugar production up to 30th November 2019 was 1.94M MT WV, -55% lower year on year compared to the 3.97M MT WV of sugar production at the same time a year ago. While According to the Australian Sugar Milling Council (“ASMC”), during the week ending 4th December 2019, Australia sugar mills crushed only 0.25M MT of cane, taking the cumulative sugarcane crush for the season to 29.9M MT, or -7% lower year on year.

Support March20 raw sugar #11 is at 12.75 and Resistance at 13.25 and 13.7 cents/lb.

(By Commoditiescontrol Bureau: +91-22-40015502)

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

   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
Uttar Pradesh Sugar Mill Prices - 25 January 2020
Tamil Nadu Sugar Mill Prices – 25 January 2020
Punjab Sugar Mill Prices – 25 January 2020
ICE Raw Sugar Slips Off 2-Yr High On Falling Crude Pri...
Domestic Sugar Prices Steady Amid Marriage Season Deman...
Top 5 News
Urad Recovers During Closing Session In Mumbai, Tur Up ...
Matar Trades Weak In Kolkata, Flat In Mumbai
Cotton Rules Mixed In Central, South India On Selective...
India's 2019-20 Daily Cotton Arrivals Up 43.8% Y/Y At 2...
Lentil Prices Dip In Mumbai/KolKata, Steady In Delhi
Top 5 Special Reports
Canada's 2020-21 Pea Production May Rise Rise Marginall...
USD/INR (Jan. ’20) – Testing Short-term Resistance near...
USD/INR (Jan. ’20) – Testing a Resistance Zone Near 71....
Urad Spot(Chennai INR): Bullish Breakout from a Base/ P...
Urad Spot(Burma USD): Appears Poised for More Strength/...
Copyright © CC Commodity Info Services LLP. All rights reserved.