ChiniMandi, Mumbai: 25th September 2023
Domestic Market
On weaker demand, domestic prices declined.
Sugar prices decreased in Maharashtra and Uttar Pradesh’s two largest markets due to weak demand. Demand is strong at lower resale rates, but tender rate demand is reportedly weak. The prices are also being affected by persistent rainfall activity over the main cane-growing regions of Maharashtra and North Karnataka.
In Kolhapur, quintals of S grade sugar cost between Rs. 3,640 and 3,670, while M grade prices in Muzaffarnagar range from Rs. 3,840 to 3,870. According to AgriMandi, the price of S grade sugar in Kolhapur markets will range between Rs 3,620 and Rs 3,700.
Ex-mill Sugar Prices as on September, 25 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3640 to 3680 |
₹3740 to 3780 |
|
Karnataka |
₹3670 to 3700 |
₹3750 |
|
Uttar Pradesh |
|
₹3815 to 3920 |
|
Gujarat |
₹3631 to 3681 |
₹3731 to 3771 |
|
Tamil Nadu |
₹3700 to 3825 |
₹3800 to 3875 |
|
Madhya Pradesh |
₹3785 to 3800 |
₹3855 to 3870 |
|
Punjab |
₹3940 to 4051 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on September, 25 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,095.00 |
|
Kanpur |
M/30 |
₹4,053.00 |
|
Kolhapur |
M/30 |
₹3,948.00 |
|
Kolkata |
M/30 |
₹4,158.00 |
|
Muzaffarnagar |
M/30 |
₹4,063.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $727.20 ton, whereas the New York Sugar #11 front month contract is trading at 26.77 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.138 whereas USD was trading with BRL at 4.9362, Crude futures traded at ₹7498, Crude WTI traded at $90.05 barrel. Sensex closed 14.54 points higher at 66023.69 whereas Nifty ended 0.30 points higher at 19674.55
News Round-Up
Cauvery row: HD Deve Gowda urges PM Modi to form committee to assess water, crop situation in Karnataka
Global sugar prices expected to increase by 5-7 per cent: Hemant Shah
Global sugar prices expected to increase by 5-7 per cent: Hemant Shah
Uttar Pradesh: Sugar mills clear 88.71 per cent cane dues
‘We hope India will open gate for Guinea-Bissau to buy rice from India’: FM Carlos Pinto Pereira
‘We hope India will open gate for Guinea-Bissau to buy rice from India’: FM Carlos Pinto Pereira
Sensex ends marginally higher, Nifty above 19,650
