ChiniMandi, Mumbai: 30th May 2023
Domestic Market
Sugar prices up in UP and Delhi, steady in Kolhapur and Kolkata
Sugar prices are quoted steady to firm in major markets. Muzaffarnagar (M grade) prices traded higher by Rs 21 per quintal at Rs 3,650-3,660 per quintal, while Kolhapur (S grade) prices remained stable at Rs 3,400-3,440 per quintal.
To keep prices under control, the June sugar sale quota is expected to be 23.50 lakh tons, 2.50 lakh tons higher than last year.
According to Agrimandi.live, prices will remain stable to firm due to strong demand, with little room for decline. Prices in the Kolhapur markets are expected to trade near Rs 3,480 per quintal in the near future.
Ex-mill Sugar Prices as on May, 30 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3390 to 3400 |
₹3490 to 3500 |
|
Karnataka |
₹3600 to 3625 |
₹3675 |
|
Uttar Pradesh |
|
₹3605 to 3715 |
|
Gujarat |
₹3501 to 3541 |
₹3591 to 3611 |
|
Tamil Nadu |
₹3565 to 3650 |
₹3750 |
|
Madhya Pradesh |
₹3545 to 3595 |
₹3600 to 3655 |
|
Punjab |
₹3660 to 3701 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on May, 30 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3,906.00 |
|
Kanpur |
M/30 |
₹3,853.50 |
|
Kolhapur |
M/30 |
₹3,701.25 |
|
Kolkata |
M/30 |
₹3,969.00 |
|
Muzaffarnagar |
M/30 |
₹3,837.75 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $711.30/ton, whereas the New York Sugar #11 front month contract is trading at 25.47 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 82.681 whereas USD was trading with BRL at 5.0194, Crude futures traded at ₹5914, Crude WTI traded at $71.81/barrel. Sensex closed 122.75 points higher at 62969.13 whereas Nifty ended 35.20 points higher at 18633.85
News Round-Up
Uttar Pradesh: MLA meets sugarcane minister for pending cane dues
Uttar Pradesh: MLA meets sugarcane minister for pending cane dues
Underutilization of land results to low sugarcane production in Fiji
Underutilization of land results to low sugarcane production in Fiji
Vishwaraj Sugar Q4 revenue jumps 52 per cent
Sustainability agenda: BPCL develops ethanol-diesel blend to lower emission
Sustainability agenda: BPCL develops ethanol-diesel blend to lower emission
Sensex ends 123 points higher, Nifty above 18,600
