ChiniMandi, Mumbai: 7th August 2023
Domestic Market
Stable to weak sentiment reported in domestic markets
Sugar prices in major domestic markets have remained stable to weak, owing to lower demand at current prices. Prices at Kolhapur reported lower by Rs 10 per quintal while in Muzaffarnagar prices were reported stable.
In Kolhapur, S-grade sugar is priced between Rs 3,500 – Rs 3,530, while M-grade sugar in Uttar Pradesh is priced between Rs 3,660 – Rs 3,700.
AgriMandi.live predicts that in the near future, the price of S grade in the Kolhapur markets will range between Rs 3,500 and Rs 3,580 per quintal.
Ex-mill Sugar Prices as on August, 7 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3510 to 3560 |
₹3610 to 3660 |
|
Karnataka |
₹3560 to 3600 |
– |
|
Uttar Pradesh |
|
₹3650 to 3730 |
|
Gujarat |
₹3551 to 3591 |
₹3641 to 3681 |
|
Tamil Nadu |
₹3590 to 3700 |
₹3690 to 3750 |
|
Madhya Pradesh |
₹3710 to 3740 |
₹3760 to 3810 |
|
Punjab |
₹3765 to 3831 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on August, 7 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3927.00 |
|
Kanpur |
M/30 |
₹3874.50 |
|
Kolhapur |
M/30 |
₹3832.50 |
|
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 $684.00 ton, whereas the New York Sugar #11 front month contract is trading at 23.68 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 82.731 whereas USD was trading with BRL at 4.8887, Crude futures traded at ₹6798, Crude WTI traded at $82.16 barrel. Sensex closed 232.23 points higher at 65953.48 whereas Nifty ended 80.30 points higher at 19597.30
News Round-Up
Dry weather may impact sugar production in Sri Lanka
Farmers decide not to supply cane to sugar mill
E20 fuel currently sold at over 1,900 pumps: Govt in Rajya Sabha
E20 fuel currently sold at over 1,900 pumps: Govt in Rajya Sabha
Oil-marketing companies raise prices of ethanol: Media Report
Oil-marketing companies raise prices of ethanol: Media Report
Sensex ends 232 points higher, Nifty nears 19,600
