ChiniMandi, Mumbai: 5th August 2023
Domestic Market
Steady sentiment domestic continued
Sugar prices in major domestic markets have remained stable for the last three sessions, owing to lower demand at current prices. Furthermore, the Food Ministry reported stocks of 10.8 MMT until July, which is sufficient until November. Higher stocks than the market expected, if any, are likely to keep prices under control in the coming months. However, according to Agrimandi.live balance sheet, government reported ending stocks are higher by 0.9-1.0 MMT unless sugar production increases due to drastic reduction in consumption.
Since tender prices have remained high, demand has been reported to be very low. In Kolhapur, S-grade sugar is priced between Rs 3,500 – Rs 3,540, while M-grade sugar in Uttar Pradesh is priced between Rs 3,660 – Rs 3,700.
AgriMandi.live predicts that in the near future, the price of S grade in the Kolhapur markets will range between Rs 3,500 and Rs 3,580 per quintal.
Ex-mill Sugar Prices as on August, 5 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3520 to 3570 |
₹3620 to 3670 |
|
Karnataka |
₹3570 to 3625 |
– |
|
Uttar Pradesh |
|
₹3650 to 3730 |
|
Gujarat |
₹3551 to 3591 |
₹3641 to 3681 |
|
Tamil Nadu |
₹3600 to 3700 |
₹3690 to 3750 |
|
Madhya Pradesh |
₹3735 to 3740 |
₹3805 to 3810 |
|
Punjab |
₹3765 to 3831 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on August, 5 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3927.00 |
|
Kanpur |
M/30 |
₹3874.50 |
|
Kolhapur |
M/30 |
₹3843.00 |
|
Kolkata |
M/30 |
₹4032.00 |
|
Muzaffarnagar |
M/30 |
₹3874.50 |
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