ChiniMandi, Mumbai: 3rd March 2023
Government Notification / Industry Update :
On 28th February 2023, Govt. fixed 22 LMT monthly sugar quota for domestic sale in March 2023.
61 sugar mills shut down crushing operations for SS 2022-23 : ISMA
Domestic Market
The market witnessed moderate demand.
Ex-mill Sugar Prices as on March, 03 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3200 to 3240 |
₹3300 to 3340 |
|
Karnataka |
₹3370 to 3400 |
₹3425 to 3450 |
|
Uttar Pradesh |
|
₹3400 to 3450 |
|
Gujarat |
₹3321 to 3351 |
₹3371 to 3401 |
|
Tamil Nadu |
₹3350 to 3425 |
₹3440 to 3475 |
|
Madhya Pradesh |
₹3370 to 3395 |
₹3425 to 3465 |
|
Punjab |
₹3450 to 3521 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on March, 03 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3600 |
|
Kanpur |
M/30 |
₹3700 |
|
Kolhapur |
M/30 |
₹3490 |
|
Kolkata |
M/30 |
₹3810 |
|
Muzaffarnagar |
M/30 |
₹3600 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $581.10/ton, whereas the New York Sugar #11 front month contract is trading at 20.61 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 81.938, whereas USD was trading with BRL at 5.1993, Crude futures traded at ₹6395, Crude WTI traded at $77.78/barrel. Sensex closed 899.62 points higher at 59,808.97 whereas Nifty ended 272.45 points higher at 17,594.35
News Round-Up
First session of G20 Foreign Ministers’ Meet commences on multilateralism, food and energy security
Sugar output in Cuba likely to head new low
Annual sugar consumption in UAE increases by 3% to 250,000 tonnes
NSE gets SEBI nod to launch WTI Crude Oil and Natural Gas futures contracts
