ChiniMandi, Mumbai: 3rd June 2023
Domestic Market
Domestic sugar prices continued to trade stable
Despite the higher monthly quota, sugar prices remained stable in major markets due to strong demand. 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.
Prices are expected to trade steady to firm due to strong demand, with little room for decline, according to Agrimandi.live. In the near future, prices in the Kolhapur markets are expected to trade near Rs 3,480 per quintal, with a support level of Rs 3,360 per quintal.
Monsoon has remained over the Bay of Bengal for the last 12-15 days, delaying the onset over Kerala even further. The IMD predicted that the monsoon would begin on June 4th, but it now appears that it will begin around June 10th.
Ex-mill Sugar Prices as on June, 3 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3340 to 3385 |
₹3420 to 3465 |
|
Karnataka |
₹3575 to 3600 |
₹3675 |
|
Uttar Pradesh |
|
₹3615 to 3725 |
|
Gujarat |
₹3441 to 3481 |
₹3531 to 3551 |
|
Tamil Nadu |
₹3550 to 3650 |
₹3660 |
|
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, 3 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 |
News Round-Up
Govt unlikely to allow sugar exports at the beginning of next season: Media report
Govt unlikely to allow sugar exports at the beginning of next season: Media report
State govt to offer facilities, subsidies to investors setting up food processing units in UP
State govt to offer facilities, subsidies to investors setting up food processing units in UP
Summer crop sowing in India declines by 1.54 lakh hectare in 2023
Summer crop sowing in India declines by 1.54 lakh hectare in 2023
Centre imposes stock limits on tur, urad dals to prevent hoarding, speculation
Centre imposes stock limits on tur, urad dals to prevent hoarding, speculation
Indian forex reserves decline USD 4.3 billion, hit one-month low
Indian forex reserves decline USD 4.3 billion, hit one-month low
Govt meets edible oil producers, advises further price reduction
Govt meets edible oil producers, advises further price reduction
