Daily Sugar Market Update By Vizzie – 19/10/2023
ChiniMandi, Mumbai: 19h October 2023
Domestic Market
Domestic sugar prices reported to be stable after a weak session
Sugar prices in the major domestic market are said to be stable following yesterday’s weak session. Despite the start of the holiday season, demand is said to be low. Prices are expected to trade firmer in the short term due to market tightness and the delay in the start of crushing.
In Kolhapur, S-grade sugar is priced between Rs. 3,640 and 3,680 per quintal, while M-grade sugar is traded between Rs. 3,870 and 3,900 per quintal in Muzaffarnagar. 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, 19 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3640 to 3700 |
₹3740 to 3800 |
|
Karnataka |
₹3650 to 3675 |
₹3725 to 3730 |
|
Uttar Pradesh |
|
₹3850 to 3945 |
|
Gujarat |
₹3700 to 3771 |
₹3780 to 3811 |
|
Tamil Nadu |
₹3700 to 3825 |
₹3875 |
|
Madhya Pradesh |
₹3835 to 3845 |
₹3905 to 3915 |
|
Punjab |
₹3980 to 4200 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on October, 19 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 $733.90 ton, whereas the New York Sugar #11 front month contract is trading at 27.21 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.235 whereas USD was trading with BRL at 5.0598, Crude futures traded at ₹7255, Crude WTI traded at $86.15 barrel. Sensex closed 247.78 points lower at 65629.24 whereas Nifty ended 46.40 points lower at 19624.70
News Round-Up
Russia sends sugar, rice and other humanitarian aid to Gaza amid Israel-Hamas war
Russia sends sugar, rice and other humanitarian aid to Gaza amid Israel-Hamas war
Uttar Pradesh: 122 sugar mills to participate in sugarcane crushing season 2023-24
Uttar Pradesh: 122 sugar mills to participate in sugarcane crushing season 2023-24
Maharashtra: Ministerial meet to fix date to commence sugarcane crushing season postponed again
Maharashtra: Ministerial meet to fix date to commence sugarcane crushing season postponed again
Researchers investigate hydrogen energy transition
Government releases final estimates of major crops production for 2022-23
Government releases final estimates of major crops production for 2022-23
