ChiniMandi, Mumbai: 23rd October 2023
Domestic Market
Domestic sugar prices have remained stable.
Due to weak demand, sugar prices in the major domestic market are expected to remain stable for the second session. Despite the beginning 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 costs between Rs. 3,640 and 3,680 per quintal, while M-grade sugar costs 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, 23 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3620 to 3680 |
₹3720 to 3780 |
|
Karnataka |
Holiday |
Holiday |
|
Uttar Pradesh |
|
₹3850 to 3945 |
|
Gujarat |
₹3680 to 3751 |
₹3760 to 3791 |
|
Tamil Nadu |
Holiday |
Holiday |
|
Madhya Pradesh |
₹3770 to 3855 |
₹3870 to 3925 |
|
Punjab |
₹3970 to 4180 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on October, 23 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 $724.00 ton, whereas the New York Sugar #11 front month contract is trading at 26.84 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.151 whereas USD was trading with BRL at 5.0442, Crude futures traded at ₹7287, Crude WTI traded at $87.58 barrel. Sensex closed 825.74 points lower at 64571.88 whereas Nifty ended 260.90 points lower at 19281.75
News Round-Up
Bangladesh plans to decrease regulatory duty on sugar imports
Bangladesh plans to decrease regulatory duty on sugar imports
Uttar Pradesh: Chhata sugar mill to reopen in 2024
India has immense possibilities to fulfill ethanol demand: Piyush Goyal
India has immense possibilities to fulfill ethanol demand: Piyush Goyal
Thailand’s Bangchak to produce sustainable aviation fuel
Sensex ends 826 points lower, Nifty below 19,300
