Sugar stockists have become active because of rising Mcx commodity prices & estimations that could yield will drop in up-coming season. Industry experts told that, they hopes stocking-up to happen, as the market now seems to be moving upward.Click for Commodity tips
"The market will continue to see upward trend & price of S-30 grade sugar will cross Rs 32 per kg in the month of April,". In the local market, NCDEX sugar futures May contract continued to experience gains for more than a week on yesterday, trading higher than Rs 3,430 per quintal. Firmness in physical markets and hope of exports requirement helped prices move higher.
"We will still have enough carry forward stock of sugar for 2016-17 season. Inspite of the fact that, there will be a fall in Maharashtra's production of sugar in coming season due to drought, other states can make up for the fall," said by Mr. Sanjiv Babar, MD of Sugar Factories Federation.
"The market will continue to see upward trend & price of S-30 grade sugar will cross Rs 32 per kg in the month of April,". In the local market, NCDEX sugar futures May contract continued to experience gains for more than a week on yesterday, trading higher than Rs 3,430 per quintal. Firmness in physical markets and hope of exports requirement helped prices move higher.
"We will still have enough carry forward stock of sugar for 2016-17 season. Inspite of the fact that, there will be a fall in Maharashtra's production of sugar in coming season due to drought, other states can make up for the fall," said by Mr. Sanjiv Babar, MD of Sugar Factories Federation.
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