ChiniMandi, Mumbai: 1st September 2023
Domestic Market
Domestic prices reported firm on good demand
Domestic prices in major markets are reported to be firm on good demand amidst rising crop concerns due to below normal rainfall activity over major cane growing regions in Maharashtra and South Indian cane growing regions. The major cane-growing regions of Maharashtra experience a 60–78% decrease in rainfall activity, which has hampered crop growth.
According to reports, the cost of a quintal in Muzaffarnagar was between Rs. 3,720 and 3,760, whereas it cost between Rs. 3,540 and 3,560 in Kolhapur. AgriMandi.live forecasts that S grade will soon trade in the Kolhapur markets for between Rs 3,500 and Rs 3,620 per quintal.
Ex-mill Sugar Prices as on September, 1 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3580 to 3620 |
₹3680 to 3720 |
|
Karnataka |
₹3610 to 3650 |
₹3640 to 3700 |
|
Uttar Pradesh |
|
₹3710 to 3790 |
|
Gujarat |
₹3581 to 3611 |
₹3681 to 3701 |
|
Tamil Nadu |
₹3650 to 3800 |
₹3775 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 September, 1 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3969.00 |
|
Kanpur |
M/30 |
₹3997.00 |
|
Kolhapur |
M/30 |
₹3864.00 |
|
Kolkata |
M/30 |
₹4084.50 |
|
Muzaffarnagar |
M/30 |
₹3937.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $718.30 ton, whereas the New York Sugar #11 front month contract is trading at 25.25 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 82.715 whereas USD was trading with BRL at 4.9509, Crude futures traded at ₹6994, Crude WTI traded at $84.77 barrel. Sensex closed 555.75 points higher at 65387.16 whereas Nifty ended 181.50 points higher at 19435.30
News Round-Up
Drought-like situation: Sugar production expected to decline upto 90 lakh tonnes in Maharashtra
Drought-like situation: Sugar production expected to decline upto 90 lakh tonnes in Maharashtra
Brazil’s sugar exports likely to hit record high in 2023/24 season
Brazil’s sugar exports likely to hit record high in 2023/24 season
Two ethanol units to come up in Dhanbad
Pakistan: Petrol, diesel prices continue to surge amid social unrest https://www.chinimandi.com/pakistan-petrol-diesel-prices-continue-to-surge-amid-social-unrest/
India manufacturing sector growth gains momentum in August
