ChiniMandi, Mumbai: 9th October 2023
Domestic Market
Domestic prices reported weak sentiment
Domestic sugar prices in major cities have been reported to be lower by Rs 5-10 per quintal. Harvesting is expected to begin in the first week of November, and the end date of the October tranche quota is due tomorrow, which has helped to revive demand to some extent. Monthly quota is expected to be released tomorrow, and according to market rumors, quota will be assigned to mills that provided stock data by October 8th.
In Kolhapur, S-grade sugar quintals cost between Rs. 3,620 and 3,640, while M-grade sugar costs between Rs. 3,810 and 3,830. According to Agrimandi.live, S grade sugar will cost between Rs 3,620 and Rs 3,700 in Kolhapur markets.
Ex-mill Sugar Prices as on October, 9 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3600 to 3630 |
₹3700 to 3730 |
|
Karnataka |
₹3625 to 3675 |
₹3725 |
|
Uttar Pradesh |
|
₹3775 to 3880 |
|
Gujarat |
₹3641 |
₹3701 to 3761 |
|
Tamil Nadu |
₹3675 to 3800 |
₹3775 to 3825 |
|
Madhya Pradesh |
₹3780 to 3795 |
₹3850 to 3865 |
|
Punjab |
₹3860 to 4011 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on October, 9 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,042.50 |
|
Kanpur |
M/30 |
₹4,005.75 |
|
Kolhapur |
M/30 |
₹3,911.25 |
|
Kolkata |
M/30 |
₹4,095.00 |
|
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 $714.10 ton, whereas the New York Sugar #11 front month contract is trading at 26.78 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.296 whereas USD was trading with BRL at 5.1532, Crude futures traded at ₹7173, Crude WTI traded at $86.04 barrel. Sensex closed 483.24 points lower at 65512.39 whereas Nifty ended 141.15 points lower at 19512.35
News Round-Up
India, Tanzania working on agreement to expand bilateral trade using local currencies
India, Tanzania working on agreement to expand bilateral trade using local currencies
Maharashtra: Farmer leader Raju Shetti to hold 22-day padyatra from Oct 17 to Nov 7 for sugarcane farmers
NLC India secures 810 MW solar photovoltaic project in Rajasthan
NLC India secures 810 MW solar photovoltaic project in Rajasthan
GST council announces significant reduction in tax rates for millet flour food preparations
GST council announces significant reduction in tax rates for millet flour food preparations
India, Tanzania working on agreement to expand bilateral trade using local currencies
India, Tanzania working on agreement to expand bilateral trade using local currencies
