ChiniMandi, Mumbai: 17h October 2023
Domestic Market
Domestic sugar prices remained stable.
After rising last week, sugar prices in the major domestic market have remained stable for the last two sessions. Prices are expected to rise due to the delayed start of the crushing season and the upcoming festive season. Supply is tighter and delay in crushing is likely to tighten the balance sheet further.
In Kolhapur, quintals of S-grade sugar cost between Rs. 3,650 and 3,690, while quintals of M-grade sugar cost between Rs. 3,880 and 3,910. 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, 17 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3650 to 3700 |
₹3750 to 3800 |
|
Karnataka |
₹3735 to 3750 |
₹3660 to 3700 |
|
Uttar Pradesh |
|
₹3860 to 3955 |
|
Gujarat |
₹3700 to 3771 |
₹3780 to 3811 |
|
Tamil Nadu |
₹3700 to 3825 |
₹3810 to 3875 |
|
Madhya Pradesh |
₹3800 to 3860 |
₹3890 to 3925 |
|
Punjab |
₹4000 to 4200 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on October, 17 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,137.00 |
|
Kanpur |
M/30 |
₹4,100.25 |
|
Kolhapur |
M/30 |
₹3,969.00 |
|
Kolkata |
M/30 |
₹4,147.50 |
|
Muzaffarnagar |
M/30 |
₹4,110.75 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $735.20 ton, whereas the New York Sugar #11 front month contract is trading at 27.32 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.237 whereas USD was trading with BRL at 5.0390, Crude futures traded at ₹7243, Crude WTI traded at $85.62 barrel. Sensex closed 261.16 points higher at 66428.09 whereas Nifty ended 79.75 points higher at 19811.50
News Round-Up
Pending cane payment: Farmer leader threatens to hold major protest
Pending cane pyament: Farmer leader threatens to hold major protest
Maharashtra: CM-led panel to fix sugarcane crushing date on Wednesday
Maharashtra: CM-led panel to fix sugarcane crushing date on Wednesday
Govt committed to provide 5 hours of uninterrupted power supply to farmers: Karnataka Energy Minister
Over 100 worldwide airports distributing Sustainable Aviation Fuel
Over 100 worldwide airports distributing Sustainable Aviation Fuel
Sensex ends 261 points higher, Nifty above 19,800
