ChiniMandi, Mumbai: 29th August 2023
Domestic Market
Domestic prices reported stable after a weak session
Domestic sugar prices were reported stable following a difficult session due to weak demand. Due to a positive IOD, rain is predicted for the upcoming month, which should help crop conditions somewhat. Additionally, the market is forecasting a significantly higher quota for the month of September, which is also putting pressure on the prices.
According to reports, quintal prices in Muzaffarnagar were between Rs. 3,700 and 3,740, and between Rs. 3,520 and 3,540 in Kolhapur. AgriMandi.live predicts that S grade will soon trade in the Kolhapur markets for between Rs 3,500 and Rs 3,580 per quintal.
Ex-mill Sugar Prices as on August, 29 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3550 to 3600 |
₹3650 to 3700 |
|
Karnataka |
₹3610 to 3650 |
₹3640 to 3700 |
|
Uttar Pradesh |
|
₹3710 to 3790 |
|
Gujarat |
₹3585 to 3601 |
₹3661 to 3691 |
|
Tamil Nadu |
₹3650 to 3800 |
₹3760 to 3850 |
|
Madhya Pradesh |
₹3720 to 3725 |
₹3790 to 3795 |
|
Punjab |
₹3800 to 3921 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on August, 29 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3948.00 |
|
Kanpur |
M/30 |
₹3906.00 |
|
Kolhapur |
M/30 |
₹3843.00 |
|
Kolkata |
M/30 |
₹4063.50 |
|
Muzaffarnagar |
M/30 |
₹3916.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $724.10 ton, whereas the New York Sugar #11 front month contract is trading at 25.52 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 82.733 whereas USD was trading with BRL at 4.8736, Crude futures traded at ₹6683, Crude WTI traded at $80.80 barrel. Sensex closed 79.22 points higher at 65075.82 whereas Nifty ended 36.60 points higher at 19342.65
News Round-Up
Nitin Gadkari unveils 100 percent ethanol-fueled Toyota Innova car
Nitin Gadkari unveils 100 percent ethanol-fueled Toyota Innova car
Vijay Nirani commends launch of 100% ethanol-fueled Toyota Innova: A proud moment for sugar and bioenergy Industry
Keep a check on sugar smuggling, and hoarding: ECC to Pakistan’s Food Ministry
Keep a check on sugar smuggling, and hoarding: ECC to Pakistan’s Food Ministry
Karnataka: KRRS urges Chief Minister Siddaramaiah to declare drought
Karnataka: KRRS urges Chief Minister Siddaramaiah to declare drought
Sensex ends 79 points higher, Nifty nears 19,350
