ChiniMandi, Mumbai: 16th February 2022
Domestic Market Update
Announcement of Quota for the month January 2022
The Department of Food & Public Distribution announced a 20 LMT monthly sugar quota for domestic sale in February 2022.
Domestic Trade Market
According to marketmen the demand has been moderate.
State wise prices today:
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3110 to 3180 |
₹3190 to 3270 |
|
Karnataka |
₹3120 to 3170 |
₹3210 to 3280 |
|
Uttar Pradesh |
|
₹3350 to 3450 |
|
Gujarat |
₹3225 to 3290 |
₹3261 to 3331 |
|
Tamil Nadu |
₹3320 to 3450 |
₹3400 to 3500 |
|
Madhya Pradesh |
₹3270 to 3300 |
₹3350 to 3380 |
|
Punjab |
|
₹3540 to 3641 |
|
(All the above rates are excluding GST) |
||
International Market News
According to reports, Egyptian Sugar and Integrated Industries Co. (ESIIC) has issued an international tender to buy at least 50,000 tonnes of raw sugar with a deadline of submission on 19th February 2022 and the sugar could be sourced from any origins.
International Trade Market
Sugar prices closed mixed.
Yesterday, London white sugar #5 (SWH22) closed up $0.40 at $489.40/ton whereas US sugar #11 (SBH22) closed lower 0.01 points at 18.21 c/lb
At the time of writing this update, the London White Sugar front month contract is trading at $482.20/ton, whereas the New York Sugar front month contract is trading at 18.13/lb.
Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 75.078, whereas USD was trading with BRL at 5.1706, Crude futures traded at Rs.6997, Crude WTI traded at $93.29 barrel. Sensex closed 145.37 points lower at 57,996.68 whereas Nifty ended 30.25 points lower at 17,322.20.
