Daily Sugar Market Update By Vizzie – 19/12/2023

ChiniMandi, Mumbai: 19th December 2023

Domestic Market

Domestic sugar prices continued to be stable

Across the main markets, sugar prices are said to be steady for the second session. At tender prices, there is reportedly less demand, but there is good demand for resale. Prices are predicted to trade lower because the crushing season is still in progress; buyers prefer word-of-mouth transactions.

M-grade sugar in Muzaffarnagar costs between Rs 3,800 and Rs 3,850 per quintal, while S-grade sugar in Kolhapur costs between Rs 3,560 and Rs 3,620 per quintal. Agrimandi predicts that during the next two weeks, S grade sugar will trade in Kolhapur markets between Rs 3,500 and Rs 3,650.

Ex-mill Sugar Prices as on December, 19 2023 :

Destination-wise Spot Prices as on December, 19 2023 :

International Market

At the time of writing this update London White Sugar #5 front month contract is trading at $612.00 ton, whereas the New York Sugar #11 front month contract is trading at 21.25 c/lb.

Currency, Commodity & Indian Indices

The rupee traded against the US dollar at 83.183 whereas USD was trading with BRL at 4.8664, Crude futures traded at ₹6073, Crude WTI traded at $72.59 barrel. Sensex closed 122.10 points higher at 71437.19 whereas Nifty ended 34.45 points higher at 21453.10