ChiniMandi, Mumbai: 31st August 2023
Domestic Market
Domestic prices continued to be stable
Due to low demand, domestic sugar prices have been reported to be stable. A higher monthly quota for September is also weighing on domestic prices. The Food Ministry has set aside 25 lakh tons, which will most likely put pressure on spot markets.
According to reports, quintal prices in Kolhapur ranged between Rs. 3,520 and 3,540, while they were between Rs. 3,700 and 3,740 in Muzaffarnagar. AgriMandi.live predicts that S grade will soon trade for between Rs 3,500 and Rs 3,580 per quintal in the Kolhapur markets.
Ex-mill Sugar Prices as on August, 31 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3560 to 3600 |
₹3660 to 3700 |
|
Karnataka |
₹3610 to 3650 |
₹3700 |
|
Uttar Pradesh |
|
₹3710 to 3790 |
|
Gujarat |
₹3605 to 3621 |
₹3681 to 3711 |
|
Tamil Nadu |
₹3650 to 3800 |
₹3760 to 3850 |
|
Madhya Pradesh |
₹3730 to 3740 |
₹3800 to 3810 |
|
Punjab |
₹3800 to 3921 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on August, 31 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 $730.30 ton, whereas the New York Sugar #11 front month contract is trading at 25.48 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 82.747 whereas USD was trading with BRL at 4.8907, Crude futures traded at ₹6804, Crude WTI traded at $82.30 barrel. Sensex closed 255.84 points lower at 64831.41 whereas Nifty ended 93.65 points lower at 19253.80
News Round-Up
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