ChiniMandi, Mumbai: 26th December 2023
Domestic Market
Domestic sugar prices reported to be stable to weak
Sugar prices in the major markets are continued to be stable to weak. Prices were stable across the markets except Uttar Pradesh where prices fell by Rs 10 per quintal.
As the crushing season is peaking, prices are expected to remain under pressure; buyers prefer hand to mouth.
In Muzaffarnagar, M-grade sugar is in the range of Rs 3,790 to Rs 3,830 per quintal, while in Kolhapur, S-grade was reported to be in the range of Rs 3,560 to Rs 3,620 per quintal. Agrimandi.live predicts that in the upcoming two weeks, S grade sugar will trade in Kolhapur markets for between Rs 3,500 and Rs 3,650 per quintal.
Ex-mill Sugar Prices as on December, 26 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3600 to 3640 |
₹3680 to 3720 |
|
Karnataka |
₹3620 to 3650 |
₹3700 |
|
Uttar Pradesh |
|
₹3745 to 3760 |
|
Gujarat |
₹3625 to 3651 |
₹3711 to 3741 |
|
Tamil Nadu |
₹3725 to 3875 |
₹3810 to 3900 |
|
Madhya Pradesh |
₹3735 to 3755 |
₹3785 to 3805 |
|
Punjab |
₹3840 to 3901 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on December, 26 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,032.00 |
|
Kanpur |
M/30 |
₹3,990.00 |
|
Kolhapur |
M/30 |
₹3,864.00 |
|
Kolkata |
M/30 |
₹4,053.00 |
|
Muzaffarnagar |
M/30 |
₹3,990.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $590.20 ton, whereas the New York Sugar #11 front month contract is trading at 20.62 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.170 whereas USD was trading with BRL at 4.8610, Crude futures traded at ₹6137, Crude WTI traded at $73.58 barrel. Sensex closed 229.84 points higher at 71336.80 whereas Nifty ended 91.95 points higher at 21441.35
News Round-Up
Dhuri sugar mill crisis: Farmers to block trains over sugarcane procurement delays
Dhuri sugar mill crisis: Farmers to block trains over sugarcane procurement delays
NCP calls for four-day ‘Shetkari Akrosh Morcha’ from Dec 27 against Centre over farmer’s issue
NCP calls for four-day ‘Shetkari Akrosh Morcha’ from Dec 27 against Centre over farmer’s issue
Maharashtra: Workers start ‘stop sugarcane cutting’ protest
Green Hydrogen Policy: CM Yogi Adityanath reviews draft, UP government to release it soon
Green Hydrogen Policy: CM Yogi Adityanath reviews draft, UP government to release it soon
Promoters to invest Rs 9,350 crore equity in Adani Green
