ChiniMandi, Mumbai: 1st December 2023
Domestic Market
Domestic sugar prices continue to fall
Sugar prices in the major domestic markets have been reported to be lower due to weak demand. According to reports, prices per quintal in Uttar Pradesh have dropped another Rs 10. Buyers prefer hand to mouth because prices are expected to remain low due to the ongoing crushing season.
S-grade sugar costs between Rs 3,600 and Rs 3,650 per quintal in Kolhapur, whereas M-grade sugar costs between Rs 3,920 and Rs 3,980. According to Agrimandi, S grade sugar will trade in Kolhapur markets for between Rs 3,600 and Rs 3,720 over the next two weeks.
Ex-mill Sugar Prices as on December, 01 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3630 to 3660 |
₹3730 to 3760 |
|
Karnataka |
₹3690 to 3715 |
₹3765 |
|
Uttar Pradesh |
|
₹3810 to 3915 |
|
Gujarat |
₹3661 to 3701 |
₹3741 to 3781 |
|
Tamil Nadu |
₹3800 to 3875 |
₹3850 to 3900 |
|
Madhya Pradesh |
₹3820 |
₹3900 |
|
Punjab |
₹3900 to 4201 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on December, 01 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,179.00 |
|
Kanpur |
M/30 |
₹4,137.00 |
|
Kolhapur |
M/30 |
₹3,906.00 |
|
Kolkata |
M/30 |
₹4,168.50 |
|
Muzaffarnagar |
M/30 |
₹4,137.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $710.40 ton, whereas the New York Sugar #11 front month contract is trading at 25.72 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.333 whereas USD was trading with BRL at 4.9218, Crude futures traded at ₹6349, Crude WTI traded at $76.03 barrel. Sensex closed 492.75 points higher at 67481.19 whereas Nifty ended 134.75 points higher at 20267.90
News Round-Up
2023-24 season: 172 sugar mills start sugarcane crushing operations in Maharashtra
2023-24 season: 172 sugar mills start sugarcane crushing operations in Maharashtra
Uttar Pradesh government to announce sugarcane price for current crushing season soon
Uttar Pradesh government to announce sugarcane price for current crushing season soon
Survey finds Israeli agriculture plummeting amidst Gaza war
“I propose to host COP33 Summit in India in 2028”: PM Modi in Dubai
“I propose to host COP33 Summit in India in 2028”: PM Modi in Dubai
Sensex ends 493 points higher, Nifty above 20,250
