India Sugar: Falls in Delhi as demand tepid, steady in other markets

Monday, Feb 11


By Preeti Bhagat


NEW DELHI – Price of medium-grade sugar fell by 5-10 rupees in the wholesale market of Delhi today as buyers stayed away from placing orders, while production is also on the higher side, traders said.


Higher sale quota for mills in February and subdued exports due to unviable rates abroad are also weighing on the sugar market.


Meanwhile, sugar prices were steady in markets such as Muzaffarnagar, Kolhapur, and Mumbai due to demand-supply parity.


"Since there is no confirmation yet on any probable increase in the minimum selling price, the market is silent and in a standstill," said an official with Muzaffarnagar-based Indian Potash.


However, only diversion of cane to ethanol can now save sugar mills from depressed prices of the sweetener, the official said.


Mills are awaiting announcement of additional soft loans by the Centre under an incentive scheme to boost ethanol production.


Under the scheme last year, the government had announced a soft loan of 44 bln rupees and provided an interest subvention of 13.32 bln rupees to mills over a five-year period, including a moratorium of one year.


At 1447 IST, the front-month March raw sugar contract on the Intercontinental Exchange was at 12.68 cents a pound, down 0.2% from the previous close. The contract also hit a one-week low of 12.62 cents a pound today.


Following are today's prices for medium-grade sugar, in rupees per 100 kg, in key wholesale markets, and the change from the previous close:




















Edited by Subham Mitra


Cogencis Tel +91 (11) 4220-1000

Send comments to



This copy was first published on the Cogencis WorkStation

© Cogencis Information Services Ltd. 2019. All rights reserved.

Other News

Govt hopes to complete merger of PSU general insurers by Dec-end

Monday, Mar 18 By Tushar Chakrabarty and Sagar Sen NEW DELHI – The government hopes to complete the merger of three state-owned general insurance companies–National Insurance Co Ltd, United India Assurance Co Ltd, and Oriental Insurance Co Ltd–by the end of the current calendar year, a senior finance ministry official said. "We could not complete the merger process this […]

TREND: Back in favour, bank stocks may see more inflows from FIIs

Monday, Mar 18 By Chiranjivi Chakraborty MUMBAI – After seven months and a sell-off worth 246 bln rupees, shares of banks are back in favour with foreign institutional investors and may remain so in the near term, said money managers. Foreign investors picked up bank stocks worth 91.54 bln rupees in February, data available with the National Securities […]

India Base Metals: Down on strong rupee vs dollar, LME trends mixed

Monday, Mar 18 By Mugunthan Kesavan NEW DELHI – Futures contracts of base metals on the Multi Commodity Exchange were down today due to a sharp appreciation in the rupee against dollar.  A strong rupee against the greenback makes dollar-denominated base metals cheaper for holders of the Indian currency.  On the benchmark London Metal Exchange, however, base metals were trading […]