ChiniMandi, Mumbai: 20th June 2023
Domestic Market
Kolhapur prices rallied sharply, other centers marginally
Sugar prices were reported to be firm in major markets due to strong demand. Prices have risen by Rs 10-40 per quintal in the major markets. Prices in Kolhapur (S grade) ranged between Rs 3,430 and Rs 3,480, while prices in Muzaffarnagar (M grade) ranged between Rs 3,640 and Rs 3,670.
Rains are expected to remain below normal in the major cane growing regions of West Maharashtra and North Karnataka in the coming week, supporting prices in Maharashtra and Karnataka.
Prices in Kolhapur rose to Rs 3,480 per quintal, as expected, and Agrimandi.live expects prices to trade stable to firm in the coming week due to strong demand. Prices in the Kolhapur markets are expected to trade near Rs 3,500/3,520 per quintal in the near future, with a support level of Rs 3,390 per quintal.
Ex-mill Sugar Prices as on June, 20 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3410 to 3440 |
₹3510 to 3540 |
|
Karnataka |
₹3590 to 3650 |
– |
|
Uttar Pradesh |
|
₹3615 to 3735 |
|
Gujarat |
₹3521 to 3561 |
₹3621 to 3641 |
|
Tamil Nadu |
₹3620 to 3700 |
– |
|
Madhya Pradesh |
₹3625 to 3640 |
₹3680 to 3710 |
|
Punjab |
₹3700 to 3751 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on June, 20 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3,932.25 |
|
Kanpur |
M/30 |
₹3,874.50 |
|
Kolhapur |
M/30 |
₹3,757.95 |
|
Kolkata |
M/30 |
₹3,990.00 |
|
Muzaffarnagar |
M/30 |
₹3,864.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $696.10 ton, whereas the New York Sugar #11 front month contract is trading at 26.02 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 82.101 whereas USD was trading with BRL at 4.7740, Crude futures traded at ₹5918, Crude WTI traded at $71.98 barrel. Sensex closed 159.40 points higher at 63327.70 whereas Nifty ended 61.25 points higher at 18816.70
News Round-Up
India to help Guyana to increase sugar production
Pilibhit: Sugarcane survey complete, cultivation fall by 1 per cent
Pilibhit: Sugarcane survey complete, cultivation fall by 1 per cent
Kazakhstan to increase sugar production
India likely to receive satisfactory rainfall in first 10 days of July: Skymet
India likely to receive satisfactory rainfall in first 10 days of July: Skymet
Sensex ends 159 points higher, Nifty above 18,800
