AGL 38.16 No Change ▼ 0.00 (0%)
AIRLINK 134.75 Increased By ▲ 0.56 (0.42%)
BOP 9.05 Increased By ▲ 0.20 (2.26%)
CNERGY 4.78 Increased By ▲ 0.09 (1.92%)
DCL 8.62 Decreased By ▼ -0.05 (-0.58%)
DFML 40.00 Increased By ▲ 0.22 (0.55%)
DGKC 84.42 Decreased By ▼ -0.73 (-0.86%)
FCCL 34.80 Decreased By ▼ -0.10 (-0.29%)
FFBL 75.90 Increased By ▲ 0.30 (0.4%)
FFL 12.81 Increased By ▲ 0.07 (0.55%)
HUBC 109.79 Increased By ▲ 0.34 (0.31%)
HUMNL 14.05 Decreased By ▼ -0.05 (-0.35%)
KEL 5.47 Increased By ▲ 0.07 (1.3%)
KOSM 8.05 Increased By ▲ 0.30 (3.87%)
MLCF 41.00 Decreased By ▼ -0.37 (-0.89%)
NBP 69.80 Increased By ▲ 0.10 (0.14%)
OGDC 194.00 Increased By ▲ 0.38 (0.2%)
PAEL 26.20 Decreased By ▼ -0.01 (-0.04%)
PIBTL 7.50 Increased By ▲ 0.08 (1.08%)
PPL 164.51 Increased By ▲ 0.66 (0.4%)
PRL 26.45 Increased By ▲ 0.09 (0.34%)
PTC 19.66 Increased By ▲ 0.19 (0.98%)
SEARL 86.10 Increased By ▲ 1.70 (2.01%)
TELE 8.05 Increased By ▲ 0.06 (0.75%)
TOMCL 33.89 Decreased By ▼ -0.16 (-0.47%)
TPLP 8.85 Increased By ▲ 0.13 (1.49%)
TREET 17.27 Increased By ▲ 0.09 (0.52%)
TRG 60.60 Decreased By ▼ -0.40 (-0.66%)
UNITY 29.19 Increased By ▲ 0.23 (0.79%)
WTL 1.37 No Change ▼ 0.00 (0%)
BR100 10,795 Increased By 19 (0.18%)
BR30 32,244 Increased By 10.3 (0.03%)
KSE100 100,524 Increased By 441.7 (0.44%)
KSE30 31,280 Increased By 86.2 (0.28%)

Indian sugar futures were treading water on Monday as ample supplies outweighed an improvement in demand from bulk consumers and concerns drought in top producing Maharashtra state may hurt production in the next season starting October 1. The most-active sugar contract for May delivery on India's National Commodity and Derivatives Exchange was 0.14 percent up at 2,960 rupees ($54.24) per 100 kg at 0934 GMT.
"This is peak demand season for sugar. Demand is improving in spot market, but at as soon as prices rise, millers are raising supplies," said Ashwini Bansod, a senior analyst at Phillip Commodities India Pvt Ltd. Demand for sugar from ice-cream and beverage makers typically rises during the summer. Spot sugar nudged up 3 rupees to 3,067 rupees per 100 kg in the Kolhapur market in top-producing Maharashtra state.
"Sugar can rise modestly in the next few weeks due to a drought in Maharashtra and summer-season demand. From June onwards monsoon season rainfall will start influencing the market," Bansod said. A severe drought in top sugar producing Maharashtra state has been affecting new plantation and is likely to affect on sugar production in the year starting from October 1, 2013.

Copyright Reuters, 2013

Comments

Comments are closed.