ChiniMandi, Mumbai: 21st August 2023
Domestic Market
Sugar prices in domestic markets increased for the fourth consecutive session due to strong demand.
Furthermore, low rainfall activity in the major growing districts of Maharashtra and North Karnataka is supporting spot market prices. Prices in the major markets rose by Rs 10 per quintal today. Spot market prices are being supported by lower rainfall activity over major cane growing regions, combined with lower supply.
Prices in Kolhapur were reported to be between Rs 3,550 and Rs 3,570 per quintal, while prices in Muzaffarnagar were reported to be between Rs 3,710 and Rs 3,750. According to AgriMandi.live, S grade will trade between Rs 3,500 and Rs 3,580 per quintal in the Kolhapur markets in the near future.
Ex-mill Sugar Prices as on August, 21 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3570 to 3620 |
₹3670 to 3720 |
|
Karnataka |
₹3610 to 3650 |
– |
|
Uttar Pradesh |
|
₹3710 to 3770 |
|
Gujarat |
₹3581 to 3601 |
₹3661 to 3681 |
|
Tamil Nadu |
₹3650 to 3800 |
₹3775 to 3850 |
|
Madhya Pradesh |
₹3745 to 3755 |
₹3815 to 3825 |
|
Punjab |
₹3710 to 3931 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on August, 21 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3958.50 |
|
Kanpur |
M/30 |
₹3916.50 |
|
Kolhapur |
M/30 |
₹3874.50 |
|
Kolkata |
M/30 |
₹4074.00 |
|
Muzaffarnagar |
M/30 |
₹3927.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $687.50 ton, whereas the New York Sugar #11 front month contract is trading at 23.83 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.148 whereas USD was trading with BRL at 4.9683, Crude futures traded at ₹6836, Crude WTI traded at $81.65 barrel. Sensex closed 267.43 points higher at 65216.09 whereas Nifty ended 83.45 points higher at 19393.50
News Round-Up
Numaligarh Refinery Ltd to invest more than Rs 35,000 cr in different projects during next five years
Keniya: Farmers blame Agriculture Food Authority for sugarcane scarcity
Keniya: Farmers blame Agriculture Food Authority for sugarcane scarcity
Satya Biofuels plans to set up ethanol plant in Andhra Pradesh
Satya Biofuels plans to set up ethanol plant in Andhra Pradesh
Farmers asks Haryana CM to retain IAS officer as sugar mill CEO
Farmers asks Haryana CM to retain IAS officer as sugar mill CEO
9th Edition of CII Sugar Tech to be held on September 4, 2023 in Lucknow
9th Edition of CII Sugar Tech to be held on September 4, 2023 in Lucknow
