ChiniMandi, Mumbai: 3rd April 2023
The market witnessed moderate demand and prices are stable.
Domestic Market
Domestic sugar prices which have been firmer in the second half of March 2023 and have shown more strength after the announcement of the monthly release order for sale of sugar in the month of April 2023. Supplies in the domestic market have been tighter with summer demand coming in and with lower crop this season especially in big sugar producing states of Maharashtra & Karnataka.
Ex-mill Sugar Prices as on April, 3 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3330 to 3360 |
₹3410 to 3450 |
|
Karnataka |
₹3430 to 3500 |
₹3550 |
|
Uttar Pradesh |
|
₹3625 to 3695 |
|
Gujarat |
₹3361 to 3421 |
₹3431 to 3471 |
|
Tamil Nadu |
₹3440 to 3500 |
₹3535 to 3550 |
|
Madhya Pradesh |
₹3460 to 3485 |
₹3530 to 3555 |
|
Punjab |
₹3680 to 3731 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on April, 3 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3,858.75 |
|
Kanpur |
M/30 |
₹3,806.25 |
|
Kolhapur |
M/30 |
₹3,622.50 |
|
Kolkata |
M/30 |
₹4,016.25 |
|
Muzaffarnagar |
M/30 |
₹3,774.75 |
International Market
Sugar prices rallied on strengthened crude prices and tighter global supplies. At the time of writing this update London White Sugar #5 front month contract is trading at $639.50/ton, whereas the New York Sugar #11 front month contract is trading at 22.50 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 82.310 whereas USD was trading with BRL at 5.0637, Crude futures traded at ₹6620, Crude WTI traded at $80.40/barrel. Sensex closed 114.92 points higher at 59106.44 whereas Nifty ended 38.30 points higher at 17398.05.
News Round-Up
UP govt inching towards ensuring sugarcane payment within a week
UP govt inching towards ensuring sugarcane payment within a week
CM Yogi reviews crop damage caused by unseasonal rain in UP
CM Naveen Patnaik disburses Rs 877 crore to over 43 lakh farmers in Odisha
CM Naveen Patnaik disburses Rs 877 crore to over 43 lakh farmers in Odisha
Domestic sugar prices strengthen on tight supply, strong demand
Domestic sugar prices strengthen on tight supply, strong demand
Pakistan’s inflation soars to 35.4 per cent in March, highest since 1965
Pakistan’s inflation soars to 35.4 per cent in March, highest since 1965
Ethanol policy to uplift sugar industry, farmers in Tamil Nadu
Ethanol policy to uplift sugar industry, farmers in Tamil Nadu
