ChiniMandi, Mumbai: 7th July 2023
Domestic Market
Sugar prices quoted stable to weak
Domestic sugar prices were reported to be stable to weak; prices in Kolhapur and Kolkata fell by Rs 10-20 per quintal, while Muzaffarnagar traded stable. The price range for S grades in Kolhapur was between Rs. 3,480 and Rs. 3,520, while the price range for M grades was between Rs. 3,650 and Rs. 3,680.
Agrimandi.live predicts that S grade will cost between Rs 3,400 and Rs 3,550 per quintal in Kolhapur markets.
Ex-mill Sugar Prices as on July, 07 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3450 to 3510 |
₹3550 to 3610 |
|
Karnataka |
₹3550 to 3625 |
– |
|
Uttar Pradesh |
|
₹3630 to 3725 |
|
Gujarat |
₹3521 to 3541 |
₹3611 to 3621 |
|
Tamil Nadu |
₹3615 to 3700 |
₹3700 to 3750 |
|
Madhya Pradesh |
₹3670 to 3690 |
₹3730 to 3755 |
|
Punjab |
₹3700 to 3751 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on July, 07 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3916.50 |
|
Kanpur |
M/30 |
₹3853.50 |
|
Kolhapur |
M/30 |
₹3822.00 |
|
Kolkata |
M/30 |
₹4021.50 |
|
Muzaffarnagar |
M/30 |
₹3853.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $664.90 ton, whereas the New York Sugar #11 front month contract is trading at 23.47 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 82.747 whereas USD was trading with BRL at 4.9202, Crude futures traded at ₹5964, Crude WTI traded at $72.17 barrel. Sensex closed 505.19 points lower at 65280.45 whereas Nifty ended 165.50 points lower at 19331.80
News Round-Up
Mills urge government to increase sugar MSP
Mysugar mill set target to crush 3,000 tonnes sugarcane per day
Mysugar mill set target to crush 3,000 tonnes sugarcane per day
Sugarcane cultivation increases in Muzaffarnagar
Lack of network hinders cane survey using GPS
Sensex ends 505 points lower, Nifty below 19,350
