ChiniMandi, Mumbai: 7th December 2023
Domestic Market
Domestic sugar prices reported to be stable
Sugar prices have been reported to be stable in the major domestic markets. Prices are said to be stable following a weak session. Prices have dropped by nearly 100-120 per quintal since the start of the crushing season. Buyers prefer hand to mouth because the current crushing season is expected to keep prices low.
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 for between Rs 3,600 and Rs 3,720 in Kolhapur markets over the next two weeks.
Ex-mill Sugar Prices as on December, 07 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 |
₹3641 to 3681 |
₹3721 to 3761 |
|
Tamil Nadu |
₹3780 to 3800 |
₹3830 to 3900 |
|
Madhya Pradesh |
₹3830 |
– |
|
Punjab |
₹3900 to 4201 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on December, 07 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 |
₹4,126.50 |
|
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 $654.90 ton, whereas the New York Sugar #11 front month contract is trading at 23.53 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.387 whereas USD was trading with BRL at 4.9030, Crude futures traded at ₹5845, Crude WTI traded at $69.94 barrel. Sensex closed 132.04 points lower at 69521.69 whereas Nifty ended 36.55 points lower at 20901.15.
News Round-Up
Government directs all sugar mills and distilleries not to use sugarcane juice for ethanol
Government directs all sugar mills and distilleries not to use sugarcane juice for ethanol
Punjab: Ajnala sugar mill starts crushing operations
Sugar Shockwaves: Examining how committee talks affect the sugar industry in 2023-24
Sugar Shockwaves: Examining how committee talks affect the sugar industry in 2023-24
Reliance Industries in discussions with sugar mills for CBG projects
Reliance Industries in discussions with sugar mills for CBG projects
Cyclone Michaung: Centre releases Rs 493.60 cr disaster relief for Andhra, TN gets Rs 450 crore
Cyclone Michaung: Centre releases Rs 493.60 cr disaster relief for Andhra, TN gets Rs 450 crore
