ChiniMandi, Mumbai: 11th July 2023
Domestic Market
Sugar prices traded stable to weak
Domestic sugar prices were reported to be stable to weak. Prices in Maharashtra are supported by a lack of supply, while prices in Muzaffarnagar are weighed down by an abundance of supply. Furthermore, good rainfall activity in Central and North India is putting downward pressure on prices. In Kolhapur, S grades were priced between Rs. 3,480 and Rs. 3,520, while M grades were priced between Rs. 3,630 and Rs. 3,660.
According to agrimandi.live, S grade is expected to cost between Rs 3,440 and Rs 3,550 per quintal in Kolhapur markets.
Ex-mill Sugar Prices as on July, 11 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3465 to 3505 |
₹3565 to 3605 |
|
Karnataka |
₹3565 to 3600 |
– |
|
Uttar Pradesh |
|
₹3615 to 3715 |
|
Gujarat |
₹3521 to 3541 |
₹3621 to 3641 |
|
Tamil Nadu |
₹3600 to 3700 |
₹3680 to 3750 |
|
Madhya Pradesh |
₹3690 |
₹3730 to 3740 |
|
Punjab |
₹3710 to 3771 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on July, 11 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3895.50 |
|
Kanpur |
M/30 |
₹3832.50 |
|
Kolhapur |
M/30 |
₹3790.50 |
|
Kolkata |
M/30 |
₹3990.00 |
|
Muzaffarnagar |
M/30 |
₹3832.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $672.90 ton, whereas the New York Sugar #11 front month contract is trading at 23.44 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 82.413 whereas USD was trading with BRL at 4.8998, Crude futures traded at ₹6048, Crude WTI traded at $73.38 barrel. Sensex closed 273.67 points higher at 65617.84 whereas Nifty ended 83.50 points higher at 19439.40
News Round-Up
Pakka to set up bagasse-based packaging plant in sugarcane-rich Guatemala
Pakka to set up bagasse-based packaging plant in sugarcane-rich Guatemala
IIL unveils new insecticide to tackle pests in paddy, sugarcane
IIL unveils new insecticide to tackle pests in paddy, sugarcane
UP Govt committed to conduct survey of crops under Centre’s Agristack scheme: Officials
UP Govt committed to conduct survey of crops under Centre’s Agristack scheme: Officials
Amit Shah to inaugurate mega conclave on July 14 to strengthen Primary Agriculture Credit Societies
Amit Shah to inaugurate mega conclave on July 14 to strengthen Primary Agriculture Credit Societies
Sensex ends 274 points higher, Nifty above 19,400
