ChiniMandi, Mumbai: 3rd August 2023
Domestic Market
Domestic sugar prices traded stable
Sugar prices in major domestic markets remained stable due to low demand at current prices. In Kolhapur, S-grade sugar is priced between Rs 3,500 and Rs 3,540, while M-grade sugar in Uttar Pradesh is priced between Rs 3,660 and Rs 3,700. Stockists are not active because they are afraid of government intervention as supply is short and there are rumors of smuggling to Bangladesh and Nepal.
According to AgriMandi.live, the price of S grade is expected to trade in the Kolhapur markets in the near future between Rs 3,500 and Rs 3,580 per quintal.
Ex-mill Sugar Prices as on August, 3 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3535 to 3580 |
₹3635 to 3680 |
|
Karnataka |
₹3590 to 3625 |
– |
|
Uttar Pradesh |
|
₹3650 to 3730 |
|
Gujarat |
₹3551 to 3591 |
₹3641 to 3681 |
|
Tamil Nadu |
₹3600 to 3660 |
– |
|
Madhya Pradesh |
₹3730 to 3735 |
₹3780 to 3805 |
|
Punjab |
₹3765 to 3831 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on August, 3 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3927.00 |
|
Kanpur |
M/30 |
₹3874.50 |
|
Kolhapur |
M/30 |
₹3843.00 |
|
Kolkata |
M/30 |
₹4032.00 |
|
Muzaffarnagar |
M/30 |
₹3874.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $695.00 ton, whereas the New York Sugar #11 front month contract is trading at 24.09 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 82.741 whereas USD was trading with BRL at 4.8123, Crude futures traded at ₹6565, Crude WTI traded at $79.37 barrel. Sensex closed 542.10 points lower at 65240.68 whereas Nifty ended 144.90 points lower at 19381.65
News Round-Up
Food Corporation of India has 1923 warehouses with capacity of 371.93 LMT for storage of Central Pool foodgrains
Farmers demand revival of sugar mill
Haryana Govt lifts internet suspension from 1pm to 4pm today in multiple districts
Haryana Govt lifts internet suspension from 1pm to 4pm today in multiple districts
BKU Tikait to launch an agitation for various demands including pending sugarcane dues
BKU Tikait to launch an agitation for various demands including pending sugarcane dues
PM JI-VAN Yojana helping ethanol projects in India
