Domestic Market
Domestic sugar prices reported to be stable to weak
Sugar prices in the main domestic markets have remained stable to weak as a result of weak demand.
According to reports, prices in Uttar Pradesh have dropped by an additional Rs 10 per quintal, while prices in the other major markets have remained stable. Since the start of the crushing season, prices have dropped by nearly 100-120 per quintal. Because the current crushing season is expected to keep prices low, buyers prefer hand to mouth.
In Kolhapur, S-grade sugar costs between Rs 3,600 and Rs 3,650 per quintal, while M-grade sugar costs between Rs 3,900 and Rs 3,950. 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, 06, 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3610 to 3650 |
₹3680 to 3730 |
|
Karnataka |
₹3700 |
₹3750 |
|
Uttar Pradesh |
|
₹3760 to 3865 |
|
Gujarat |
₹3661 to 3701 |
₹3741 to 3781 |
|
Tamil Nadu |
₹3785 to 3875 |
₹3845 to 3900 |
|
Madhya Pradesh |
₹3830 |
|
|
Punjab |
₹3900 to 4201 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on December, 05 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,137.00 |
|
Kanpur |
M/30 |
₹4,095.00 |
|
Kolhapur |
M/30 |
₹3,895.50 |
|
Kolkata |
M/30 |
₹4,126.5 |
|
Muzaffarnagar |
M/30 |
₹4,095.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $674.40 ton, whereas the New York Sugar #11 front month contract is trading at 24.28 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.336 whereas USD was trading with BRL at 4.9064, Crude futures traded at ₹5959, Crude WTI traded at $71.42 barrel. Sensex closed 357.59 points higher at 69,653.73 whereas Nifty ended 82.60 points higher at 20,937.70.
