ChiniMandi, Mumbai: 24th July 2023
Domestic Market
Steady to positive sentiment reported in domestic sugar prices
Domestic sugar prices in major markets were reported to be stable to positive. Demand is reportedly low due to heavy rains in Maharashtra and a truck shortage in Uttar Pradesh, but it has improved slightly since last week. Rainfall has reportedly slowed trading activity in Maharashtra. In Kolhapur, S-grade reported between Rs 3,470 and Rs 3,510, while M-grade in Uttar Pradesh is reported in the range of Rs 3,630 and Rs 3,670.
According to AgriMandi.live, the price of S grade is expected to trade between Rs 3,440 and Rs 3,550 per quintal in the Kolhapur markets in the near future.
Ex-mill Sugar Prices as on July, 24 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3460 to 3500 |
₹3560 to 3600 |
|
Karnataka |
₹3525 to 3575 |
– |
|
Uttar Pradesh |
|
₹3600 to 3710 |
|
Gujarat |
₹3531 to 3551 |
₹3631 to 3651 |
|
Tamil Nadu |
₹3560 to 3700 |
₹3665 to 3750 |
|
Madhya Pradesh |
₹3670 |
₹3740 |
|
Punjab |
₹3750 to 3786 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on July, 24 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3906.00 |
|
Kanpur |
M/30 |
₹3843.00 |
|
Kolhapur |
M/30 |
₹3780.00 |
|
Kolkata |
M/30 |
₹3990.00 |
|
Muzaffarnagar |
M/30 |
₹3843.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $701.10 ton, whereas the New York Sugar #11 front month contract is trading at 25.12 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 81.827 whereas USD was trading with BRL at 4.7572, Crude futures traded at ₹6346, Crude WTI traded at $77.52 barrel. Sensex closed 299.48 points lower at 66384.78 whereas Nifty ended 72.65 points lower at 19672.35
News Round-Up
Farmers threaten to launch an agitation for pending cane dues
Farmers threaten to launch an agitation for pending cane dues
Kharif crops sowing in India marginally higher so far in 2023
Kharif crops sowing in India marginally higher so far in 2023
CNRI proposes creation of ‘World Cooperative Economic Forum’ for democratising global food at UN’s ECOSOC
19 countries express interest in being initiating members of Global Biofuels Alliance
19 countries express interest in being initiating members of Global Biofuels Alliance
Sensex ends 299 points lower, Nifty below 19,700
