ChiniMandi, Mumbai: 6th June 2023
Domestic Market
Steady to firm sentiment in domestic sugar prices
Domestic sugar prices witnessed a stable to firm sentiment in major markets today. Good demand due to higher prevailing temperatures is supporting prices at major markets. The delayed onset of monsoon is keeping temperatures in most of North India above normal. Prices for Muzaffarnagar (M grade) were stable in the Rs 3,660-3,670 per quintal range, while prices for Kolhapur (S grade) were trading in the Rs 3,390-3,430 per quintal range.
According to Agrimandi.live, prices are expected to trade steady 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, with a support level of Rs 3,360 per quintal.
Ex-mill Sugar Prices as on June, 6 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3340 to 3385 |
₹3420 to 3465 |
|
Karnataka |
₹3560 to 3625 |
₹3675 |
|
Uttar Pradesh |
|
₹3590 to 3725 |
|
Gujarat |
₹3421 to 3461 |
₹3521 to 3541 |
|
Tamil Nadu |
₹3540 to 3650 |
₹3645 |
|
Madhya Pradesh |
₹3520 to 3565 |
₹3580 to 3615 |
|
Punjab |
₹3690 to 3741 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on June, 6 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3895.50 |
|
Kanpur |
M/30 |
₹3843.00 |
|
Kolhapur |
M/30 |
₹3685.50 |
|
Kolkata |
M/30 |
₹3948.00 |
|
Muzaffarnagar |
M/30 |
₹3832.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $674.80 ton, whereas the New York Sugar #11 front month contract is trading at 24.53 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 82.590 whereas USD was trading with BRL at 4.9246, Crude futures traded at ₹5841, Crude WTI traded at $70.39/barrel. Sensex closed 5.41 points higher at 62792.88 whereas Nifty ended 5.15 points higher at 18599.00
News Round-Up
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Monsoon progress in Kerala likely to affect by cyclonic circulation: IMD
Monsoon progress in Kerala likely to affect by cyclonic circulation: IMD
Syria to lower wheat exports by half following hike in domestic production
Syria to lower wheat exports by half following hike in domestic production
