ChiniMandi, Mumbai: 9th August 2023
Domestic Market
Sugar prices in domestic markets reported stable
Sugar prices in major domestic markets have remained stable, owing to lower demand at current prices. Prices in Kolhapur and Muzaffarnagar were reported stable. Moreover, the Food ministry report of ending stocks at 10.8 MMT is likely to weigh on prices in the remaining months of the season.
In Kolhapur, S-grade sugar continued to trade in the range of Rs 3,500 – Rs 3,530, 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, 9 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3510 to 3560 |
₹3610 to 3660 |
|
Karnataka |
₹3570 to 3600 |
₹3650 |
|
Uttar Pradesh |
|
₹3650 to 3730 |
|
Gujarat |
₹3551 to 3571 |
₹3631 to 3651 |
|
Tamil Nadu |
₹3600 to 3700 |
₹3710 to 3750 |
|
Madhya Pradesh |
₹3625 to 3730 |
₹3795 to 3800 |
|
Punjab |
₹3765 to 3831 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on August, 9 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 $683.70 ton, whereas the New York Sugar #11 front month contract is trading at 23.50 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 82.847 whereas USD was trading with BRL at 4.8991, Crude futures traded at ₹6948, Crude WTI traded at $83.84 barrel. Sensex closed 149.31 points higher at 65995.81 whereas Nifty ended 61.70 points higher at 19632.55
News Round-Up
Sugarcane farmers leader Raju Shetti denies factionalism in party
Sugarcane farmers leader Raju Shetti denies factionalism in party
Mr. Dilip Patil to receive ‘Industry Excellence Award’ from STAI for outstanding contributions to sugar sector
Ethanol policy helps mills to clear cane dues of farmers on time
Ethanol policy helps mills to clear cane dues of farmers on time
Centre to offload 50 LMT of wheat and 25 LMT of rice in open market
Centre to offload 50 LMT of wheat and 25 LMT of rice in open market
Sensex ends 149 points higher, Nifty above 19,600
