ChiniMandi, Mumbai: 6th November 2023
Domestic Market
Domestic sugar prices reported to be weak
Sugar prices in the main domestic market are said to be low due to low demand. Prices in the major markets fell by Rs 10-20 per quintal today. More falls were seen in Karnataka markets as crushing began. The start of the crushing campaign is likely to keep prices stable in the short to medium term.
In Kolhapur, S-grade sugar costs between Rs. 3,640 and Rs. 3,680 per quintal, while M-grade sugar costs between Rs. 3,940 and Rs. 3,970. According to Agrimandi.live, S grade sugar will trade in Kolhapur markets for between Rs 3,600 and Rs 3,720 over the next two weeks.
Ex-mill Sugar Prices as on November, 06 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3615 to 3665 |
₹3715 to 3765 |
|
Karnataka |
₹3650 to 3685 |
₹3775 |
|
Uttar Pradesh |
|
₹3885 to 3960 |
|
Gujarat |
₹3671 to 3701 |
₹3751 to 3781 |
|
Tamil Nadu |
₹3725 to 3850 |
₹3785 to 3900 |
|
Madhya Pradesh |
₹3860 to 3870 |
₹3920 to 3930 |
|
Punjab |
₹4000 to 4200 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on November, 06 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,158.00 |
|
Kanpur |
M/30 |
₹4,126.50 |
|
Kolhapur |
M/30 |
₹3,948.00 |
|
Kolkata |
M/30 |
₹4,179.00 |
|
Muzaffarnagar |
M/30 |
₹4,126.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $760.00 ton, whereas the New York Sugar #11 front month contract is trading at 27.85 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.217 whereas USD was trading with BRL at 4.9016, Crude futures traded at ₹6835, Crude WTI traded at $82.05 barrel. Sensex closed 594.91 points higher at 64958.69 whereas Nifty ended 181.15 points higher at 19411.75
News Round-Up
Odisha: Farmers in Kalahandi and Koraput districts suffer crop damage due to heavy downpours and hailstorms
Phagwara: Civil administration reopens lock of sugar mill
Ethanol production: Maharashtra CM Eknath Shinde asks farmers to focus on bamboo productuon
Ethanol production: Maharashtra CM Eknath Shinde asks farmers to focus on bamboo productuon
‘World Food India 2023’ inaugurated in New Delhi; Prime Minister mentions technology and culinary excellence of the country
Sensex ends 595 points higher, Nifty above 19,400
