last 48 hours have been very amazing for the sugar industry... sugar co. stocks moved up by whooping 20%+ yesterday. few mills closed their sales, banking on expected bull run in sugar prices. NCDEX September expiry saw amazing swings....suddenly physical market started to climb especially in Delhi. Suddenly sentiments turned and everyone forgot huge inventories & bumper crop knocking the mill's doors.
the man who drives this is the man we all know as "the great gambler" from cricket to food & agriculture... he's the man who controls players, farmers, traders, sugar and to some extent Global wheat prices now.
How immature of our sugar industry to fall in the vicious loop of political interest and industry dynamics. I'm reiterating that its time that we need to relook into ourselves and must set our own rules on how an industry move forward and not letting politicians decide what & when we should we buy and sell.
1 comment:
I concur entirely. All it takes is a few announcements here & there and behold!, we suddenly have the herd following. For all those still gaping and pondering, have a look at each of the sugar shares' delivery volume, u'll see what i mean. Though the volume was baffling, 9-11% delivery volume just reflects the author's views. Chak de Sugarindia.
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