Business Standard

Weekly Market Report - Sugar, Kirana

Image

Press Trust of India New Delhi

Sugar: Firming trend developed in the wholesale sugar market during the week under review, recording gains upto Rs 50 per quintal, following increased buying by retailers and bulk consumers amid restricted supply.  

Market analysts said pick-up in demand for the marriage season against restricted supply from mills mainly led to the rise in sugar prices. 

Sugar ready medium improved from Rs 2,950-3,050 to Rs 2,950-3,100, while second grade prices rose to Rs 2,925-3,050 from Rs 2,935-3,025. Mill delivery medium and second grade price also went up from Rs 2,750-2,940 and Rs 2,725-2,915 to Rs 2,775-2,975 and Rs 2,750-2,950, respectively.   

In the millgate section, sugar titabi improved by Rs 30 to Rs 2,860 per quintal and sugar mawana by Rs 25 to Rs 2,850 per quintal. Sugar thanabhavan inched up by Rs 25 to Rs 2750, while dorala gained by Rs 15 to Rs 2,840 per quintal.

 

Dry Fruits: Mixed conditions prevailed in the wholesale dry fruits market during the week under review, with prices of almond and cashew rising on pick-up in demand, while pistachio and walnut showed weakness.   

Stocks being held by speculators amid negligible arrivals from production centres led to the rise in select dry fruits prices. Almond (gurbandi and girdhi) prices strengthened by Rs 100 each to Rs 5,200-5,500 and Rs 2,900-3,100 per 40 kg, respectively, while almond kernel gurbandi moved up to Rs 350-410 from previous close of Rs 340-400 per kg.

Cashew kernel No 180, No 210, No 240 and No 320 rose by up to Rs 15 to Rs 660-670, Rs 600-620, Rs 550-575 and Rs 500-550, respectively, and its broken ended at Rs 410-490, Rs 400-465 and Rs 350-415 per kg, respectively.

Copra prices rose by Rs 100 to conclude at Rs 7,500-7,700 per quintal. Kishmish Indian green traded higher by Rs 100 to settle at Rs 5,800-8,000 per quintal. 

On the other hand, pistachio hairati and peshwari declined by Rs 20 each to closed at Rs 850-865 and Rs 1,050-1,090 per quintal. Walnut kernel also drifted by Rs 25 to finish at Rs 425-725.

Kirana: In a mixed pattern of trading, pepper and jeera, firmed up in the national capital during the week following increased buying by stockists on rising domestic and export demand.  

Traders said tight stocks following holding back of stocks on hopes of better prices supported the uptrend.   

However, cardamom and poppyseed turned weak on lack of buying interest and lost some ground. Black pepper prices rose by Rs 100 to settle at Rs 27,600-27,800 per quintal.

Cloves prices traded higher at Rs 750-825 against previous week's closing of Rs 700-785 per kg. Red chilli and turmeric prices went up by Rs 100 to closed at Rs 9,600-13,300 and Rs 8,600-14,600 per quintal, respectively.   

Jeera common and jeera best quality rose by Rs 100 at Rs 14,800-15,000 and Rs 17,000-17,100 per quintal, respectively.   

Watermelon kernel also went up by Rs 5 to finish at Rs 130 per kg. 

However, cardamom small varieties such as chitridar, colour robin, bold and extra bold prices fell by Rs 10 each to close at Rs 600-630, Rs 610-650, Rs 630-680 and Rs 880-910 per kg, respectively. 

Poppyseed (Turkey, MP-RAJ and Kashmiri) prices also declined by Rs 5 each to finish at Rs 140, 150-205 and Rs 155 per kg, respectively.

Jaggery: The wholesale gur prices ended on a firm note in the national capital during the past week due to fall in supply from manufacturing areas against pick-up in demand from retailers and stockist, registering gains of Rs 100 per quintal.  

Muzaffarnagar and Muradnagar gur markets also remained higher on brisk buying by stockists against restricted supply. Higher neighbouring states advices and better retailers demand also helped in boosting trading sentiments to some extent.  

In Delhi, gur pedi and dhayya prices climbed up from the last week's close of Rs 2,900-3,000 and Rs 3,000-3,100 to settle at Rs 3,000-3,100 and Rs 3,100-3,200 per quintal, respectively. Gur chakku gained by Rs 50 to Rs 2,800-2,900 as compared to last week's close of Rs 2,750-2,850 per quintal.  

Shakkar prices too remained in demand and moved up by Rs 100 to Rs 3,200-3,300 per quintal. At Muzaffarnagar, gur raskat shot up by Rs 75 to Rs 2,250-2,325 due to heavy buying by alcohol making industries.  

Gur chakku also showed handsome gains of Rs 100 at Rs 2,425-2,550 per quintal.

Turning to Muradnagar, gur pedi prices ruled flat throughout the week on some support at Rs 2,650-2,700 per quintal, while gur dhayya prices remained unquoted because of paucity of stocks.

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jul 09 2011 | 2:43 PM IST

Explore News