ChiniMandi, Mumbai: 4th July 2023
Domestic Market
Sugar prices have continued to rise in domestic markets
Sugar prices in domestic markets continue to rise due to increased demand, despite significantly higher quotas. Spot market prices are also being supported by reduced sugar availability. Prices increased by Rs 10-20 per quintal in major markets. Prices for S grades in Kolhapur rose by Rs 20 per quintal, trading between Rs 3,500 and Rs 3,540, while prices for M grades in Muzaffarnagar ranged between Rs 3,650 and Rs 3,680.
According to Agrimandi.live, S grade prices in Kolhapur markets are likely to be in the Rs 3,400-3,550 per quintal range.
Ex-mill Sugar Prices as on July, 04 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3500 to 3530 |
₹3600 to 3630 |
|
Karnataka |
₹3600 to 3650 |
– |
|
Uttar Pradesh |
|
₹3630 to 3725 |
|
Gujarat |
₹3531 to 3561 |
₹3621 to 3641 |
|
Tamil Nadu |
₹3615 to 3700 |
₹3700 to 3750 |
|
Madhya Pradesh |
₹3680 to 3700 |
₹3750 to 3770 |
|
Punjab |
₹3700 to 3751 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on July, 04 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3916.50 |
|
Kanpur |
M/30 |
₹3853.50 |
|
Kolhapur |
M/30 |
₹3822.00 |
|
Kolkata |
M/30 |
₹4021.50 |
|
Muzaffarnagar |
M/30 |
₹3853.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $638.30 ton, whereas the New York Sugar #11 front month contract is trading at 23.32 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 82.013 whereas USD was trading with BRL at 4.8079, Crude futures traded at ₹5811, Crude WTI traded at $70.78 barrel. Sensex closed 274.00 points higher at 65479.05 whereas Nifty ended 66.45 points higher at 19389.00
News Round-Up
Piyush Goyal to launch sugar-ethanol portal at ‘National Conference of Food Ministers’
Piyush Goyal to launch sugar-ethanol portal at ‘National Conference of Food Ministers’
Agrimandi.live’s preliminary estimates of sugar production for 2023-24 sugar season
Agrimandi.live’s preliminary estimates of sugar production for 2023-24 sugar season
Gulshan Polyols starts commercial operations at 500 KLPD grain-based ethanol plant in Madhya Pradesh
Gulshan Polyols starts commercial operations at 500 KLPD grain-based ethanol plant in Madhya Pradesh
Indian donates 10,000 metric tonnes of wheat to Afghanistan amid humanitarian crisis
Indian donates 10,000 metric tonnes of wheat to Afghanistan amid humanitarian crisis
Sensex ends 274 points higher, Nifty above 19,350
