Just in:  

You are here: Home»Markets»Commodities»Asia»India sugar steady as weak demand offsets crushing delay

sugar 400MUMBAI: Indian sugar futures were steady on Friday as subdued demand and higher supplies for the December-to-March period outweighed a delay in cane crushing in Uttar Pradesh, the country's second biggest sugar producing state.


* At 0946 GMT, the key December contract on India's National Commodity and Derivatives Exchange was up 0.12 percent at 3,322 rupees ($60.95)per 100 kg.


* Sugar nudged down 3 rupees to 3,443 rupees per 100 kg at the Kolhapur spot market in top-producing Maharashtra state.


* "Demand was weak, but mills are expecting an improvement in demand from north India in next two weeks as crushing has been delayed there," said a member of Bombay Sugar Merchants Association.


* In northern Uttar Pradesh, farmers and mills are waiting for the state government to announce the state-advised price for cane.


* A likely rise in import duty also underpinned sentiment, dealers said. India currently imposes a 10 percent import tax on sugar.


* The government has allowed sugar mills to sell 7 million tonnes of sugar in the open market between December and March, including 200,000 tonnes of unsold stocks from the October-November period, slightly higher than the average monthly allocations of about 1.7 million tonnes.

Copyright Reuters, 2012


Index Closing Chg%
Arrow DJIA 17,081.89 0.29
Arrow Nasdaq 4,796.61 0.87
Arrow S&P 2,003.69 0.68
Arrow FTSE 6,342.28 0.45
Arrow DAX 10,032.82 0.86
Arrow CAC-40 4,643.38 0.97
Arrow Nikkei 18,234.74 1.11
Arrow H.Seng 22,600.46 0.57
Arrow Sensex 26,846.53 0.21

New 2015 adidas and Nike Soccer Cleats at Kicks Corner uk

Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-1.988 bln
Exports $1.835 bln
Imports $3.823 bln
WeeklyOctober 08, 2015
Reserves $20.05 bln