ChiniMandi, Mumbai: 2nd June 2023
Domestic Market
Prices quoted stable in major markets
Sugar prices traded stable in major markets on strong demand despite the higher monthly quota. Prices for Muzaffarnagar (M grade) were stable in the range of Rs 3,660-3,670 per quintal, while prices for Kolhapur (S grade) were trading in the range of Rs 3,390-3,420 per quintal.
According to Agrimandi.live, prices are expected to trade steady to firm due to strong demand, with little room for decline. Prices in the Kolhapur markets are expected to trade near Rs 3,480 per quintal in the near future, with a support level of Rs 3,360 per quintal.
Ex-mill Sugar Prices as on June, 2 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3340 to 3385 |
₹3420 to 3465 |
|
Karnataka |
₹3500 to 3625 |
₹3675 |
|
Uttar Pradesh |
|
₹3615 to 3725 |
|
Gujarat |
₹3461 to 3501 |
₹3551 to 3571 |
|
Tamil Nadu |
₹3560 to 3650 |
– |
|
Madhya Pradesh |
₹3525 to 3565 |
₹3595 to 3635 |
|
Punjab |
₹3700 to 3751 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on June, 2 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3916.50 |
|
Kanpur |
M/30 |
₹3864.00 |
|
Kolhapur |
M/30 |
₹3685.50 |
|
Kolkata |
M/30 |
₹3958.50 |
|
Muzaffarnagar |
M/30 |
₹3848.25 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $688.70ton, whereas the New York Sugar #11 front month contract is trading at 24.68 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 82.300 whereas USD was trading with BRL at 5.0145, Crude futures traded at ₹5873, Crude WTI traded at $71.25/barrel. Sensex closed 118.57 points higher at 62547.11 whereas Nifty ended 46.35 points higher at 18534.10
News Round-Up
BPCL’s R&D Center revolutionizes the fuel industry with breakthrough innovations and patents
BPCL’s R&D Center revolutionizes the fuel industry with breakthrough innovations and patents
Sugarcane crushing begins at ChamSugar mill
Sugarcane development inspector inspects sugarcane survey process
Sugarcane development inspector inspects sugarcane survey process
Pending cane dues: Sugarcane farmers oppose cane survey
Government’s thrust on using ethanol as a vehicle fuel is now bearing fruit: Minister Gadkari
Government’s thrust on using ethanol as a vehicle fuel is now bearing fruit: Minister Gadkari
