ChiniMandi, Mumbai: 13th September 2023
Domestic Market
Domestic sugar prices continued to trade stable for second session
For the second session in a row, domestic sugar prices remained unchanged. The major cane-growing regions of Maharashtra and Karnataka are reportedly experiencing dry weather, which could further reduce sugar production. As traders and stockists await notification of the stock limit, demand is reportedly muted.
In Muzaffarnagar, a quintal is reported to cost between Rs. 3,750 and 3,780, while in Kolhapur, it costs between Rs. 3,600 and 3,630. A quintal of S grade sugar will cost between Rs 3,580 and Rs 3,700 in Kolhapur markets.
Ex-mill Sugar Prices as on September, 13 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3620 to 3650 |
₹3720 to 3750 |
|
Karnataka |
₹3625 to 3700 |
₹3690 to 3750 |
|
Uttar Pradesh |
|
₹3750 to 3830 |
|
Gujarat |
₹3601 to 3651 |
₹3701 to 3741 |
|
Tamil Nadu |
₹3700 to 3825 |
₹3825 to 3875 |
|
Madhya Pradesh |
₹3610 to 3750 |
₹3660 to 3840 |
|
Punjab |
₹3870 to 4001 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on September, 13 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,000.50 |
|
Kanpur |
M/30 |
₹3,958.50 |
|
Kolhapur |
M/30 |
₹3,906.00 |
|
Kolkata |
M/30 |
₹4,116.00 |
|
Muzaffarnagar |
M/30 |
₹3,979.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $746.10 ton, whereas the New York Sugar #11 front month contract is trading at 26.66 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 82.968 whereas USD was trading with BRL at 4.9474, Crude futures traded at ₹7419, Crude WTI traded at $89.44 barrel. Sensex closed 245.86 points higher at 67466.99 whereas Nifty ended 76.80 points higher at 20070.00
News Round-Up
Shree Renuka Sugars to acquire Anamika Sugar Mills for Rs 200 crore
Shree Renuka Sugars to acquire Anamika Sugar Mills for Rs 200 crore
Bangladesh: Rajshahi Sugar Mills suffers major losses
Punjab: Phagwara farmers protest over non-payment of sugarcane dues
Punjab: Phagwara farmers protest over non-payment of sugarcane dues
India’s ethanol bleeding represents trillion-dollar opportunity: Minister Puri
India’s ethanol bleeding represents trillion-dollar opportunity: Minister Puri
Cabinet approves additional 75 lakh LPG connections under PM Ujjwala scheme
Cabinet approves additional 75 lakh LPG connections under PM Ujjwala scheme
