ChiniMandi, Mumbai: 1st November 2023
Domestic Market
Domestic sugar prices are said to be stable
Sugar prices have remained stable in the major domestic market for the second session after rising due to high holiday demand and limited supply. Prices in the major markets are trading at multi-year highs due to tighter supply. Crushing activity has begun in Karnataka this week, which is expected to keep check on price rise from mid-November.
In Kolhapur, S-grade sugar costs between Rs. 3,680 and Rs. 3,740 per quintal, while M-grade sugar costs between Rs. 3,980 and Rs. 4,020. According to Agrimandi.live, S grade sugar will trade in Kolhapur markets between Rs 3,650 and Rs 3,750 in the next two weeks.
Ex-mill Sugar Prices as on November, 01 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3640 to 3700 |
₹3740 to 3800 |
|
Karnataka |
₹3690 to 3710 |
₹3760 |
|
Uttar Pradesh |
|
₹3920 to 3985 |
|
Gujarat |
₹3671 to 3701 |
₹3751 to 3781 |
|
Tamil Nadu |
₹3755 to 3850 |
₹3830 to 3900 |
|
Madhya Pradesh |
₹3790 to 3890 |
₹3890 to 3960 |
|
Punjab |
₹4021 to 4251 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on November, 01 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,210.50 |
|
Kanpur |
M/30 |
₹4,179.00 |
|
Kolhapur |
M/30 |
₹3,990.00 |
|
Kolkata |
M/30 |
₹4,242.00 |
|
Muzaffarnagar |
M/30 |
₹4,189.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $744.70 ton, whereas the New York Sugar #11 front month contract is trading at 27.41 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.323 whereas USD was trading with BRL at 5.0381, Crude futures traded at ₹6873, Crude WTI traded at $82.40 barrel. Sensex closed 283.60 points lower at 63591.33 whereas Nifty ended 90.45 points lower at 18989.15
News Round-Up
Global Investors Summit: UP Cane Development and Sugar Industry achieves more than 102 per cent of target with projects worth Rs 1285 crore
Brazil offers ethanol production technology to India
Zimbabwe plans to set up new sugar mill in Lowveld; international investors invited
Zimbabwe plans to set up new sugar mill in Lowveld; international investors invited
Brazil offers ethanol production technology to India
Hydroclimate extremes will be more intensified in near-future over the Indian River Basins
Hydroclimate extremes will be more intensified in near-future over the Indian River Basins
