ChiniMandi, Mumbai: 14th August 2023
Domestic Market
Domestic prices quoted are stable to weak
Sugar prices are said to be stable in Maharashtra’s major markets, while M grade prices fell in Uttar Pradesh due to weak demand. In Uttar Pradesh, prices dropped by Rs 10 per quintal. Tender quotes are said to be higher, but resale prices are lower because demand is said to be low. Most of the buyers are buying hand to mouth which is keeping prices under control.
In Kolhapur, the cost of S-grade sugar ranged from Rs 3,510 to Rs 3,540, while in Uttar Pradesh, the cost of M-grade sugar ranged from Rs 3,660 to Rs 3,700. AgriMandi.live predicts that in the near future, the price of S grade will trade in the Kolhapur markets between Rs 3,500 and Rs 3,580 per quintal.
Ex-mill Sugar Prices as on August, 14 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3510 to 3560 |
₹3610 to 3660 |
|
Karnataka |
₹3570 to 3600 |
₹3600 |
|
Uttar Pradesh |
|
₹3650 to 3730 |
|
Gujarat |
₹3541 to 3561 |
₹3621 to 3641 |
|
Tamil Nadu |
₹3625 to 3725 |
₹3710 to 3775 |
|
Madhya Pradesh |
₹3725 to 3730 |
₹3795 to 3800 |
|
Punjab |
₹3660 to 3831 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on August, 14 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3,916.50 |
|
Kanpur |
M/30 |
₹3,864.00 |
|
Kolhapur |
M/30 |
₹3,832.50 |
|
Kolkata |
M/30 |
₹4,021.50 |
|
Muzaffarnagar |
M/30 |
₹3,874.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $698.70 ton, whereas the New York Sugar #11 front month contract is trading at 24.30 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.133 whereas USD was trading with BRL at 4.9083, Crude futures traded at ₹6874, Crude WTI traded at $82.83 barrel. Sensex closed 79.27 points higher at 65401.92 whereas Nifty ended 6.25 points higher at 19434.55
News Round-Up
India’s kharif crop planting area rises
MLA raises issue of pending cane dues during assembly session
MLA raises issue of pending cane dues during assembly session
Flood damages sugarcane crops grown in over 24 villages
Kingsmeal Agro plans to set up grain-based distillery unit in West Bengal
Kingsmeal Agro plans to set up grain-based distillery unit in West Bengal
Possibility of heavy rains in areas of Punjab, Haryana for next 3 days: IMD
Possibility of heavy rains in areas of Punjab, Haryana for next 3 days: IMD
