Maharashtra quoting 27/- per kg duty paid whereas UP is around 29.2 duty paid... overall market sentiment is dull however buying likely to improve in next couple of days. Export ban delay has negative impact on market...
The Indian government would not be considering export of sugar under the open general license (OGL) in the medium term. The government may delay or cancel about 5 lakh tones of unrestricted exports under an open general license. Crushing is going on and supply is also good but the demand is limited, sugar millers preferred to wait rather than reducing the prices. However lower Free Sale Quota for February as compared to January is likely to trigger active buying in both spot and futures market
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