ChiniMandi, Mumbai: 3rd October 2023
Domestic Market
Domestic prices continue to trade lower on dull demand
According to reports, domestic sugar prices are lower due to weak demand for the third session. In addition, good rainfall activity in Maharashtra’s main growing regions during the last week of September are also weighing on prices. In major cities, prices fell by Rs 5-10 per quintal.
In Kolhapur, quintals of S-grade sugar cost between Rs. 3,620 and 3,650, while quintals of M-grade sugar cost between Rs. 3,815 and 3,840 in Muzaffarnagar. According to Agrimandi.live, S grade sugar in Kolhapur markets will cost between Rs 3,620 and Rs 3,700.
Ex-mill Sugar Prices as on October , 3 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3600 to 3630 |
₹3700 to 3730 |
|
Karnataka |
₹3630 to 3675 |
₹3720 to 3725 |
|
Uttar Pradesh |
|
₹3815 to 3920 |
|
Gujarat |
₹3641 |
₹3701 to 3761 |
|
Tamil Nadu |
₹3675 to 3825 |
₹3775 to 3850 |
|
Madhya Pradesh |
₹3790 to 3805 |
₹3860 to 3875 |
|
Punjab |
₹3915 to 4041 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on October , 3 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,042.50 |
|
Kanpur |
M/30 |
₹4,005.75 |
|
Kolhapur |
M/30 |
₹3,916.50 |
|
Kolkata |
M/30 |
₹4,105.50 |
|
Muzaffarnagar |
M/30 |
₹4,016.25 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $699.20 ton, whereas the New York Sugar #11 front month contract is trading at 26.22 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.196 whereas USD was trading with BRL at 5.0637, Crude futures traded at ₹7367, Crude WTI traded at $88.33 barrel. Sensex closed 316.31 points lower at 65512.10 whereas Nifty ended 109.55 points lower at 19528.75
News Round-Up
Maharashtra: Swabhimani Shetkari Sanghatana to hold 22nd sugarcane convention on November 7
Maharashtra: Swabhimani Shetkari Sanghatana to hold 22nd sugarcane convention on November 7
USDA revises sugar production forecast for Philippines
Fiji outlines plan for sugar refinery
Massive earthquake tremors felt in Delhi-NCR, epicentre in Nepal
Massive earthquake tremors felt in Delhi-NCR, epicentre in Nepal
Sensex ends 316 points lower, Nifty below 19,550
