ChiniMandi, Mumbai: 12th July 2023
Domestic Market
Sugar prices traded stable
Domestic sugar prices were reported to be stable on subdued demand. Rainfall activity over the major cane growing regions of Maharashtra and North Karnataka was reported below normal. 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, 12 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3460 to 3500 |
₹3560 to 3600 |
|
Karnataka |
₹3565 to 3600 |
– |
|
Uttar Pradesh |
|
₹3615 to 3715 |
|
Gujarat |
₹3521 to 3541 |
₹3621 to 3641 |
|
Tamil Nadu |
₹3590 to 3700 |
₹3670 to 3750 |
|
Madhya Pradesh |
₹3670 to 3690 |
₹3730 to 3755 |
|
Punjab |
₹3730 to 3801 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on July, 12 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 $677.80 ton, whereas the New York Sugar #11 front month contract is trading at 23.54 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 82.143 whereas USD was trading with BRL at 4.8194, Crude futures traded at ₹6166, Crude WTI traded at $75.52 barrel. Sensex closed 223.94 points lower at 65393.90 whereas Nifty ended 55.10 points lower at 19384.30
News Round-Up
Market forces responsible for rising sugar prices: PSMA
Sugar production in Brazil increases in late June
Centre plans tomato procurement from key growing states as prices skyrocket
Centre plans tomato procurement from key growing states as prices skyrocket
Yamuna water level reaches its highest-ever mark at 207.55 metres; Kejriwal convenes emergency meeting
Sensex ends 224 points lower, Nifty below 19,400
