ChiniMandi, Mumbai: 27th September 2023
Domestic Market
Domestic prices traded weak on subdued demand
Domestic sugar prices were reported as weak following a steady session yesterday. Prices in major markets of Kolhapur and Muzaffarnagar fell by Rs 10-20 per quintal. As per the ground update, demand is good at resale prices but is dull at tender rates as the festive season ended. Next tranche of demand is expected to pick up for Dussehra.
In Kolhapur, quintals of S grade sugar cost between Rs. 3,630 and 3,660, while M grade prices in Muzaffarnagar range from Rs. 3,820 to 3,850. 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, 27 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3615 to 3645 |
₹3715 to 3745 |
|
Karnataka |
₹3640 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 |
₹3780 to 3795 |
₹3850 to 3865 |
|
Punjab |
₹3925 to 4050 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on September, 27 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,074.00 |
|
Kanpur |
M/30 |
₹4,032.00 |
|
Kolhapur |
M/30 |
₹3,937.50 |
|
Kolkata |
M/30 |
₹4,137.00 |
|
Muzaffarnagar |
M/30 |
₹4,042.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $710.40 ton, whereas the New York Sugar #11 front month contract is trading at 26.07 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.235 whereas USD was trading with BRL at 4.9885, Crude futures traded at ₹7656, Crude WTI traded at $92.06 barrel. Sensex closed 173.22 points higher at 66118.69 whereas Nifty ended 51.75 points higher at 19716.45
News Round-Up
Government extends support under Scheme for Remission of Duties and Taxes on Exported Products till 30th June 2024
Moradabad: Plans to increase sugar mill’s crushing capacity
Farmers detained in Thanjavur while protesting against sugar mill
Farmers detained in Thanjavur while protesting against sugar mill
Maruti Chairman advocates transition to ethanol and hydrogen-powered cars
Maruti Chairman advocates transition to ethanol and hydrogen-powered cars
Government sets higher wheat production target for next season
Government sets higher wheat production target for next season
