ChiniMandi, Mumbai: 8th August 2022
Domestic Trade Market
Last week after the announcement of the domestic sale quota for the month of August 2022, sugar prices shot up by ₹80 to 100/ quintal. A correction in prices was anticipated after the Government announced an extension of 30 days for the month of July 2022. Today, the market witnessed moderate demand nationwide. The prices were stable and unchanged as compared to Saturday.
Ex-mill sugar prices as on August, 08 2022 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3340 to 3400 |
₹3410 to 3470 |
|
Karnataka |
₹3350 to 3430 |
₹3550 to 3640 |
|
Uttar Pradesh |
|
₹3525 to 3600 |
|
Gujarat |
₹3321 to 3381 |
₹3371 to 3431 |
|
Tamil Nadu |
₹3475 to 3550 |
₹3525 to 3600 |
|
Madhya Pradesh |
₹3460 to 3480 |
₹3520 to 3540 |
|
Punjab |
|
₹3570 to 3641 |
|
(All the above rates are excluding GST) |
||
International Trade Market
At the time of writing this update, the London White Sugar #5 front month contract (SWV22) is trading at $543.50/ton, whereas the New York Sugar #11 front month contract (SBV22) is trading at 17.90 c/lb. On Friday sugar prices were moderately up owing to global sugar crop concerns. London White Sugar #5 front month contract (SWV22) closed up by $22.90 at $550.90/ton whereas New York Sugar #11 front month contract (SBV22) closed up 0.39 points 17.94 c/lb.
Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 79.587 whereas USD was trading with BRL at 5.1305 Crude futures traded at ₹7033, Crude WTI traded at $88.07/barrel. Sensex closed 465.14 points higher at 58,853.07 whereas Nifty ended 127.60 points higher at 17,525.10.
