NCDEX Agri Commodity- Sugar prices stay weak in spite of removal of stock

NCDEX Agri  CommodityIn spite of the removal of the stock limit on sugar on Tuesday, the prices of sugar have not been improved much. Short of demand on account of winter season and expectations of higher.

production are keeping prices subdued. Sugar prices have fallen by Rs 3 to 4 per kg during past two months, as the govt removed the stock limit on traders on Wednesday. The trade does not expect the significant increase in sugar prices.

On Wednesday, the prices of sugar increased Rs. 20.00 per quintal and it is ruling at Rs. 31 per kg in Maharastra, however, removal of stock limit is expected to help the sector by improving sales and stabilizing prices.

The Indian Sugar Mills Association said in its release that – improving and the stock holding limit on traders being removed with buying interest and the market is likely to increase their buying, which can have a optimistic outlook on the sales and market sentiments, which in turn is already having a stabilizing effect.

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