ChiniMandi, Mumbai: 23rd August 2023
Domestic Market
Domestic prices continue to be stable
Sugar prices in domestic markets remained stable today. Demand was reported to be strong in the previous two days, but little was reported today. Lower rainfall activity over major cane growing regions, combined with lower supply, is supporting spot market prices.
Prices in Kolhapur were reported to be between Rs 3,540 and Rs 3,560 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 be traded in the Kolhapur markets in the near future between Rs 3,500 and Rs 3,580 per quintal.
Ex-mill Sugar Prices as on August, 23 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3550 to 3620 |
₹3650 to 3720 |
|
Karnataka |
₹3610 to 3650 |
– |
|
Uttar Pradesh |
|
₹3720 to 3790 |
|
Gujarat |
₹3581 to 3601 |
₹3661 to 3681 |
|
Tamil Nadu |
₹3650 to 3800 |
₹3760 to 3850 |
|
Madhya Pradesh |
₹3740 to 3755 |
₹3810 to 3825 |
|
Punjab |
₹3800 to 3941 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on August, 23 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 $678.30ton, whereas the New York Sugar #11 front month contract is trading at 23.12 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 82.652 whereas USD was trading with BRL at 4.9390, Crude futures traded at ₹6501, Crude WTI traded at $78.41 barrel. Sensex closed 213.27 points higher at 65433.30 whereas Nifty ended 47.55 points higher at 19444.00
News Round-Up
Sugarcane production boost: Bangladesh government hikes sugarcane price
Sugarcane production boost: Bangladesh government hikes sugarcane price
Pending cane dues: BKU (Doaba) leaders to protest outside SDM office
Pending cane dues: BKU (Doaba) leaders to protest outside SDM office
Indonesia sets target to achieve sugar self-sufficiency by 2028
Indonesia sets target to achieve sugar self-sufficiency by 2028
OMCs announce additional incentive on ethanol produced from damaged food grain and maize
OMCs announce additional incentive on ethanol produced from damaged food grain and maize
521.27 LMT rice estimated for procurement during the forthcoming KMS 2023-24
521.27 LMT rice estimated for procurement during the forthcoming KMS 2023-24
