ChiniMandi, Mumbai: 18h October 2023
Domestic Market
Domestic sugar prices fell due to weak demand
Sugar prices in the major domestic market have been reported to be weak due to lower demand, following a steady to firm sentiment in the previous 3-4 sessions. Prices in major cities were reported to be Rs 10 per quintal lower. However, given the tightness of the market and the delay in the start of crushing, prices are expected to trade firmer in the short term.
In Kolhapur, quintals of S-grade sugar cost between Rs. 3,640 and 3,680, while quintals of M-grade sugar cost between Rs. 3,870 and 3,900. Agrimandi.live estimates that S grade sugar will cost between Rs 3,620 and Rs 3,700 in Kolhapur markets.
Ex-mill Sugar Prices as on October, 18 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3650 to 3700 |
₹3750 to 3800 |
|
Karnataka |
₹3650 to 3675 |
₹3725 to 3730 |
|
Uttar Pradesh |
|
₹3860 to 3955 |
|
Gujarat |
₹3700 to 3771 |
₹3780 to 3811 |
|
Tamil Nadu |
₹3700 to 3825 |
₹3800 to 3875 |
|
Madhya Pradesh |
₹3835 to 3845 |
₹3905 to 3915 |
|
Punjab |
₹4000 to 4200 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on October, 18 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,126.50 |
|
Kanpur |
M/30 |
₹4,084.50 |
|
Kolhapur |
M/30 |
₹3,958.50 |
|
Kolkata |
M/30 |
₹4,137.00 |
|
Muzaffarnagar |
M/30 |
₹4,100.25 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $743.40 ton, whereas the New York Sugar #11 front month contract is trading at 27.51 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.251 whereas USD was trading with BRL at 5.0402, Crude futures traded at ₹7389, Crude WTI traded at $87.33 barrel. Sensex closed 551.07 points lower at 65877.02 whereas Nifty ended 140.40 points lower at 19671.10
News Round-Up
New Delhi to organise second edition of World Food India 2023 from November 3-5
New Delhi to organise second edition of World Food India 2023 from November 3-5
Government extends restriction on sugar exports beyond October 31
Government extends restriction on sugar exports beyond October 31
Sugar mills in Karnataka will start sugarcane crushing from October 25: Minister Shivanand Patil
Sugar mills in Karnataka will start sugarcane crushing from October 25: Minister Shivanand Patil
Jagatjit Industries gets Rs 180 crore term loan from IREDA for ethanol plant
Jagatjit Industries gets Rs 180 crore term loan from IREDA for ethanol plant
Sensex ends 551 points lower, Nifty below 19,700
