ChiniMandi, Mumbai: 5th December 2023
Domestic Market
Domestic sugar prices continue to fall.
Sugar prices in the main domestic markets have continued to fall due to weak demand. Reports state that prices have decreased by an additional Rs 10 per quintal across the major centers. Prices have fallen by almost 100-120 per quintal since the start of the crushing season. Buyers prefer hand to mouth because the ongoing crushing season is expected to keep prices low.
In Kolhapur, S-grade sugar costs between Rs 3,600 and Rs 3,650 per quintal, while M-grade sugar costs between Rs 3,900 and Rs 3,960. According to Agrimandi, S grade sugar will trade for between Rs 3,600 and Rs 3,720 in Kolhapur markets over the next two weeks.
Ex-mill Sugar Prices as on December, 05 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3620 to 3660 |
₹3720 to 3760 |
|
Karnataka |
₹3700 |
₹3750 |
|
Uttar Pradesh |
|
₹3780 to 3885 |
|
Gujarat |
₹3661 to 3701 |
₹3741 to 3781 |
|
Tamil Nadu |
₹3785 to 3875 |
₹3845 to 3900 |
|
Madhya Pradesh |
₹3830 |
₹3900 |
|
Punjab |
₹3900 to 4201 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on December, 05 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,147.50 |
|
Kanpur |
M/30 |
₹4,105.50 |
|
Kolhapur |
M/30 |
₹3,895.50 |
|
Kolkata |
M/30 |
₹4,137.00 |
|
Muzaffarnagar |
M/30 |
₹4,105.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $707.00 ton, whereas the New York Sugar #11 front month contract is trading at 25.56 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.381 whereas USD was trading with BRL at 4.9519, Crude futures traded at ₹6101, Crude WTI traded at $72.93 barrel. Sensex closed 431.02 points higher at 69296.14 whereas Nifty ended 168.30 points higher at 20855.10
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