Mgrade traded at Rs.2700/quintal to Rs.2800/quintal whereas S-grade traded at Rs.2500/quintal to RS.2600/quintal at Vashi, Mumbai market.
NCDEX Oct sugar futures continued its bullish trend on active buying of sugar in spot market and settled at Rs.2440/quintal, up by 0.99% from the previous close. Total area sown under sugar cane stood at 49 lakh hectare on 28th August up by 4.3% year/year.
ICE raw sugar traded on positive note on yesterday. Oct. delivery raw sugar contract at ICE closed at 10.71cent/lb, up by 0.2% from the previous close. Sugar output in Brazil’s Center-South, nation’s main growing area, is estimated to be 31.4 MMT in 2015-16 as per DATAAGRO where it was previously estimated at 30.7
Sugar Outlook festive season : Sugar futures may continue its bullish trend on account of supporting underlying fundamental factors of sugar. Active demand of sweetener in spot market amid expected rise in exportable supply may continue to support the sugar prices in coming days.
However, adequate supply of sweetener from sugar mills may keep the prices under check. Higher tender prices for sugar May offering by sugar mills may prompt sugar traders to increase the sugar prices at major trading centers. Sugar mills have increased their tender prices for sugar after considering the active demand of sugar ahead of festive season.
However, adequate stocks of sugar may limit the excessive gains in prices. Sugar mills are consistently selling sugar at discount prices to clear their due payments. Total Cane dues are estimated at Rs.14000 CR. Including the Rs.7500 Cr in Uttar Pradesh and Rs.3000 Cr. in Maharashtra (source : /www.moneycontrol.com )
Mgrade sugar prices in mumbai, S-grade sugar prices in mumbai, sugar prices forecast september 2015, sugar prices of festive season 2015
0 Response to "sugar prices ahead of festive season in india 2015"
Post a Comment