ChiniMandi, Mumbai: 25th April 2023
Domestic Market
Sugar prices reported steady to firm across major centres in India.
Domestic sugar prices remained steady to firm after a fall for 8-9 session on good demand at lower price levels. Kolhapur reported steady while other major centres saw uptrend of Rs 6-10 per Qtl.
According to Agrimandi.live, prices are expected to trade steady with positive bias, with limited downside due to short supply. Agrimandi.live anticipates that government may consider to allocate 23-23.5 lakh tons of sugar for the month of May, higher by 0.5-1.0 lakh tons y/y to keep prices under check.
Ex-mill Sugar Prices as on April, 25 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3400 to 3410 |
₹3520 to 3540 |
|
Karnataka |
₹3520 to 3575 |
₹3600 to 3625 |
|
Uttar Pradesh |
|
₹3600 to 3660 |
|
Gujarat |
₹3461 to 3501 |
₹3531 to 3571 |
|
Tamil Nadu |
₹3545 to 3620 |
₹3620 to 3650 |
|
Madhya Pradesh |
₹3615 to 3660 |
₹3685 to 3730 |
|
Punjab |
₹3745 to 3801 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on April, 25 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3953.25 |
|
Kanpur |
M/30 |
₹3900.75 |
|
Kolhapur |
M/30 |
₹3664.50 |
|
Kolkata |
M/30 |
₹4,032.00 |
|
Muzaffarnagar |
M/30 |
₹3801.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $687.30/ton, whereas the New York Sugar #11 front month contract is trading at 25.93 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 81.944 whereas USD was trading with BRL at 5.0348, Crude futures traded at ₹6392, Crude WTI traded at $78.20/barrel. Sensex closed 746.61 points higher at 60,130.71 whereas Nifty ended 25.85 points higher at 17,769.25.
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