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Positive Tone Remains Intact In North, East India Sugar Markets, Bearish Mood Elsewhere

17 Oct 2020 5:58 pm
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NEW DELHI (Commodities control) Festive demand continued to be the dominating factor for North and East Indian markets. Overall positive tone was noted in markets of northern and eastern states. Sugar prices inched up in Uttar Pradesh. Many mills hiked sugar sale price by Rs. 15-20 per quintal further. However, bearish trend persisted in southern and western markets. There was no price movement in these markets.

A trader from Delhi--Mr. Sushil Agrawal told that sugar demand was increasing, so mills could increase it’s selling price. They increased prices around Rs. 15-20 per quintal. However, the price rise will not continue for long because overall festival demand was half of last year’s demand. Today, M grade sugar prices rose Rs. 10 to Rs 3400-3495 per quintal in Muzaffarnagar which is major sugar trading centre for west UP based sugar mills. In Delhi and Kanpur, demand was good, but there was no significant price rise today. These markets had witnessed good price rise in last few days.


But, thin trade was noted in Maharashtra, Mumbai, Hyderabad, Chennai and Bangaluru. An official of Hyderabad sugar mill told that festival demand may not support market due to current challenges. The market can see some positive move only when government comes ahead for policy intervention. In Kolkata also, sugar remained stable but demand was good ahead of Dussehara.


Market

Grade

17-Oct

16-Oct

Change

Delhi

M-31

3450-3550

3450-3550

0

(Including GST)

S-31

3430-3520

3430-3520

0

Muzaffarnagar (UP)

M-31

3420-3495

3410-3495

10

(Including GST)

S-31

3400-3470

3390-3470

10

Kanpur (UP)

M-31

3410-3500

3410-3500

0

(Including GST)

S-31

3390-3480

3390-3480

0

Mumbai-Vashi

M-30

3276-3442

3276-3442

0

GST Extra

S-30

3226-3292

3226-3292

0

Mumbai-Naka

M-30

3230-3320

3230-3320

0

GST Extra

S-30

3170-3220

3170-3220

0

Kolhapur (Maha)

M-30

3130-3190

3130-3190

0

GST Extra

S-30

3090-3110

3090-3110

0

Hyderabad (Tel.)

M-30

3170-3190

3170-3190

0

GST Extra

S-30

3140-3170

3140-3170

0

Bangaluru (Ktk)

M-30

3210-3240

3210-3240

0

GST Extra

S-30

3180-3210

3180-3210

0

Chennai (TN)

M-30

3300-3330

3300-3330

0

GST Extra

S-30

3280-3300

3280-3300

0

Kolkata Ex-Rly Siding

M-30

3570-3590

3570-3590

0

(Including GST)

S-30

3510-3520

3510-3520

0

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


       
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