Domestic Market
Domestic sugar prices continued to be stable
For the third session, sugar prices in the main domestic market have not changed despite rising as a result of limited supply and strong holiday demand. Due to a shortage of supply, prices in the main markets are trading at multi-year highs. Crushing activity has begun in Karnataka this week, which is expected to keep check on price rise from mid-November.
The price range for S-grade sugar in Kolhapur is Rs. 3,680 to Rs. 3,740 per quintal, while the price range for M-grade sugar is Rs. 3,980 to Rs. 4,020. Agrimandi.live predicts that in the upcoming two weeks, S grade sugar will trade in Kolhapur markets between Rs 3,650 and Rs 3,750.
Ex-mill Sugar Prices as on November, 02 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3635 to 3695 |
₹3735 to 3795 |
|
Karnataka |
₹3690 to 3710 |
₹3760 |
|
Uttar Pradesh |
|
₹3900 to 3970 |
|
Gujarat |
₹3671 to 3701 |
₹3751 to 3781 |
|
Tamil Nadu |
₹3755 to 3850 |
₹3830 to 3900 |
|
Madhya Pradesh |
₹3855 to 3870 |
₹3925 to 3940 |
|
Punjab |
₹3980 to 4221 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on November, 02 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,200.00 |
|
Kanpur |
M/30 |
₹4,168.50 |
|
Kolhapur |
M/30 |
₹3,969.00 |
|
Kolkata |
M/30 |
₹4,221.00 |
|
Muzaffarnagar |
M/30 |
₹4,168.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $745.40 ton, whereas the New York Sugar #11 front month contract is trading at 27.43 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.228 whereas USD was trading with BRL at 4.9543, Crude futures traded at ₹6757, Crude WTI traded at $81.00 barrel. Sensex closed 489.57 points higher at 64080.90 whereas Nifty ended 144.10 points higher at 19133.25
News Round-Up
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2.87 LMT wheat sold to 2389 bidders in the 19th e-auction under Open Market Sale Scheme (Domestic)
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Sensex ends 490 points higher, Nifty nears 19,150
