ChiniMandi, Mumbai: 28th December 2023
Domestic Market
Domestic sugar prices continued to be stable
Sugar prices are reported to be stable in the main markets following a week-long decline. As the crushing season peaks, prices are expected to remain under pressure.
In Muzaffarnagar, M-grade sugar costs between Rs 3,790 and Rs 3,840 per quintal, while in Kolhapur, S-grade sugar costs between Rs 3,560 and Rs 3,620 per quintal. Agrimandi.live predicts that during the next 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, 28 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3570 to 3610 |
₹3650 to 3690 |
|
Karnataka |
₹3650 |
₹3700 |
|
Uttar Pradesh |
|
₹3745 to 3850 |
|
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, 28 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 $592.30 ton, whereas the New York Sugar #11 front month contract is trading at 20.56 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.187 whereas USD was trading with BRL at 4.8274, Crude futures traded at ₹6117, Crude WTI traded at $73.31 barrel. Sensex closed 371.95 points higher at 72410.38 whereas Nifty ended 123.95 points higher at 21778.70
News Round-Up
Punjab: Sugarcane farmers protest demanding to start operations at Dhuri sugar mill
Punjab: Sugarcane farmers protest demanding to start operations at Dhuri sugar mill
Mandya: MySugar factory generates 12.2MW of electricity
Karnataka: Farmer grows 25 feet sugarcane crop adopting Israeli technology
Karnataka: Farmer grows 25 feet sugarcane crop adopting Israeli technology
Vibrant Gujarat: 30 MoUs, including ethanol projects, signed in Gandhinagar
Vibrant Gujarat: 30 MoUs, including ethanol projects, signed in Gandhinagar
Sensex ends 372 points higher, Nifty above 21,750
