ChiniMandi, Mumbai: 5th October 2023
Domestic Market
Domestic prices traded stable for second session
Domestic sugar prices have been reported to be stable for the second session. At the current price levels, demand for resale sugar is said to be strong. Furthermore, the Food Ministry has yet to release a full quota for the month of October, which is supporting prices in the major markets.
In Kolhapur, S-grade sugar quintals cost between Rs. 3,620 and 3,650, while M-grade sugar costs between Rs. 3,820 and 3,840. According to Agrimandi.live, S grade sugar will cost between Rs 3,620 and Rs 3,700 in Kolhapur markets.
Ex-mill Sugar Prices as on October, 5 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3600 to 3630 |
₹3700 to 3730 |
|
Karnataka |
₹3620 to 3675 |
₹3725 |
|
Uttar Pradesh |
|
₹3795 to 3890 |
|
Gujarat |
₹3641 |
₹3701 to 3761 |
|
Tamil Nadu |
₹3675 to 3800 |
₹3775 to 3825 |
|
Madhya Pradesh |
₹3780 to 3795 |
₹3850 to 3865 |
|
Punjab |
₹3900 to 4031 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on October, 5 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,042.50 |
|
Kanpur |
M/30 |
₹4,005.75 |
|
Kolhapur |
M/30 |
₹3,916.50 |
|
Kolkata |
M/30 |
₹4,105.50 |
|
Muzaffarnagar |
M/30 |
₹4,016.25 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $690.40 ton, whereas the New York Sugar #11 front month contract is trading at 25.90 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.249 whereas USD was trading with BRL at 5.1555, Crude futures traded at ₹6911, Crude WTI traded at $82.55 barrel. Sensex closed 405.53 points higher at 65631.57 whereas Nifty ended 109.65 points higher at 19545.75
News Round-Up
Sugar Season 2023-24: Sugarcane crushing in Maharashtra expected to commence on November 1
Sugar Season 2023-24: Sugarcane crushing in Maharashtra expected to commence on November 1
Punjab: Sugarcane farmers cautioned against signing a letter to reopen sugar mill
Punjab: Sugarcane farmers cautioned against signing a letter to reopen sugar mill
Indonesia: ID Food plans to import 125,000 tonnes of sugar from Brazil
Indonesia: ID Food plans to import 125,000 tonnes of sugar from Brazil
Ethanol production surges in Uttar Pradesh
1.89 LMT wheat and 0.05 LMT rice sold to 2255 bidders during 15th e-auction under Open Market Sale Scheme (Domestic)
