ChiniMandi, Mumbai: 1st August 2023
Domestic Market
Firm sentiment witnessed in sugar prices
Domestic sugar prices continued to rise due to strong demand. Despite the increased quotas, prices in the major markets were reported to be Rs 20-30 per quintal higher. Prices in Maharashtra increased by Rs 20 per quintal, while prices in Muzaffarnagar increased by Rs 30 per quintal. Good demand ahead of the holiday season, as well as rumors of a shortage due to smuggling to Bangladesh and Nepal, are supporting spot market prices.
S-grade in Kolhapur costs between Rs 3,490 and Rs 3,530, while M-grade in Uttar Pradesh costs between Rs 3,660 and Rs 3,700.
According to AgriMandi.live, the price of S grade is expected to trade in the Kolhapur markets in the near future between Rs 3,440 and Rs 3,550 per quintal.
Ex-mill Sugar Prices as on August, 1 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3530 to 3580 |
₹3630 to 3680 |
|
Karnataka |
₹3570 to 3625 |
– |
|
Uttar Pradesh |
|
₹3625 to 3710 |
|
Gujarat |
₹3561 to 3581 |
₹3661 to 3681 |
|
Tamil Nadu |
₹3600 to 3700 |
₹3690 to 3750 |
|
Madhya Pradesh |
₹3710 to 3720 |
₹3750 to 3790 |
|
Punjab |
₹3750 to 3786 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on August, 1 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3927.00 |
|
Kanpur |
M/30 |
₹3874.50 |
|
Kolhapur |
M/30 |
₹3832.50 |
|
Kolkata |
M/30 |
₹4032.00 |
|
Muzaffarnagar |
M/30 |
₹3874.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $690.00 ton, whereas the New York Sugar #11 front month contract is trading at 24.21 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 82.251 whereas USD was trading with BRL at 4.7246, Crude futures traded at ₹6693, Crude WTI traded at $81.37 barrel. Sensex closed 68.36 points lower at 66459.31 whereas Nifty ended 20.25 points lower at 19733.55
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