ChiniMandi, Mumbai: 16th November 2023
Domestic Market
Domestic sugar prices rose on lower monthly quota
Sugar prices in the major domestic markets have risen as a result of a lower monthly quota. The Food Ministry has allocated an additional 8 lakh tons to the 15 lakh quota for the month of November, for a total of 23 lakh tons, up from 29 lakh tons the previous month. Prices in major North Indian markets were reported to be Rs 30-59 per quintal higher.
The price range for S-grade sugar in Kolhapur was Rs 3,630 to Rs 3,660 per quintal, while the price range for M-grade sugar in Muzaffarnagar was Rs 3,980 to Rs 4,040. Agrimandi.live predicts that during the course of the next two weeks, S grade sugar will trade in Kolhapur markets for between Rs 3,600 and Rs 3,720.
Ex-mill Sugar Prices as on November, 16 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3640 to 3700 |
₹3740 to 3800 |
|
Karnataka |
₹3690 to 3700 |
₹3750 |
|
Uttar Pradesh |
|
₹3830 to 3935 |
|
Gujarat |
₹3701 to 3741 |
₹3781 to 3821 |
|
Tamil Nadu |
₹3750 to 3850 |
₹3800 to 3900 |
|
Madhya Pradesh |
₹3850 |
₹3900 |
|
Punjab |
₹3950 to 4251 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on November, 16 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,242.00 |
|
Kanpur |
M/30 |
₹4,200.00 |
|
Kolhapur |
M/30 |
₹3,927.00 |
|
Kolkata |
M/30 |
₹4,210.50 |
|
Muzaffarnagar |
M/30 |
₹4,200.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $746.60 ton, whereas the New York Sugar #11 front month contract is trading at 27.39 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.240 whereas USD was trading with BRL at 4.8626, Crude futures traded at ₹6358, Crude WTI traded at $76.39 barrel. Sensex closed 306.55 points higher at 65982.48 whereas Nifty ended 89.75 points higher at 19765.20
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