Financial Daily from THE HINDU group of publications
Tuesday, Oct 12, 2004
Financial Daily from THE HINDU group of publications Tuesday, Oct 12, 2004 |
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Agri-Biz & Commodities
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Sugar Sugar likely to remain firm Dhimant Bhatt
Mumbai , Oct. 11 SUGAR prices in the short-term are expected to remain firm at current levels on adequate supply through free sale (FS) quota and levy quota against good seasonal demand. "Domestic demand is certain to pick up on ahead of a series of festival such as Navaratri, Ramzan and Diwali," a leading trader said. "Currently, prices are ruling marginally higher over the previous month. Demand from retailers and upcountry buyers is quite good," a broker said. At the Vashi wholesale market, small sugar quality (S-30) increased to Rs 1,593/1,645 per quintal on Monday from Rs 1,585/1,633 per quintal on October 1.Medium sugar quality (M-30) ruled firm at Rs 1,635/1,695 from Rs 1,633/1,683 per quintal. "Buying from retailers and bulk consumers such as sweet makers will increase gradually from this week on expectation of good seasonal demand from upcountry traders," the trader said. "Festival demand from Gujarat, Madhya Pradesh and Karnataka is expected to pick up from October 15 and it will continue till November 15," said another trader. Traders said prices were likely to rule more or less steady in next few days on enough supply during the festival season.
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