ChiniMandi, Mumbai: 20th April 2023
Domestic Market
Weak sentiment reported on subdued demand.
Domestic sugar prices fell on subdued buying activity on the back of retail demand. Buyers have covered for Ramadan and no festive season nearby is keeping prices under check after a sharp rally during the first week of the month. However, price fall was limited in Maharashtra as compared to other centres on drastic reduction in production. Prices in other centres have corrected by Rs 40-50 per Qtl while in Maharashtra prices have fallen by around Rs 15-20 per Qtl.
In the near term prices are expected to trade in a broader range with a limited downside on short supply.
Ex-mill Sugar Prices as on April, 20 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3420 to 3430 |
₹3520 to 3540 |
|
Karnataka |
₹3550 to 3575 |
₹3600 to 3625 |
|
Uttar Pradesh |
|
₹3615 to 3680 |
|
Gujarat |
₹3481 to 3521 |
₹3551 to 3591 |
|
Tamil Nadu |
₹3550 to 3620 |
₹3625 to 3650 |
|
Madhya Pradesh |
₹3590 to 3655 |
₹3640 to 3725 |
|
Punjab |
₹3745 to 3801 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on April, 20 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3,916.50 |
|
Kanpur |
M/30 |
₹3,864.00 |
|
Kolhapur |
M/30 |
₹3,706.50 |
|
Kolkata |
M/30 |
₹4,074.00 |
|
Muzaffarnagar |
M/30 |
₹3,832.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $678.00/ton, whereas the New York Sugar #11 front month contract is trading at 24.38 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 82.170 whereas USD was trading with BRL at 5.0780, Crude futures traded at ₹6435, Crude WTI traded at $77.97/barrel. Sensex closed 64.55 points higher at 59632.35 whereas Nifty ended 5.70 points higher at 17624.45
News Round-Up
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Sensex ends marginally higher, Nifty above 17,600
Study finds heatwaves linked to climate change may prevent India from meeting sustainable development goals
