ChiniMandi, Mumbai: 7th November 2023
Domestic Market
Domestic sugar prices continue to trade weak
Sugar prices in the major domestic market have remained low due to lower demand. Today, prices in the major markets of Uttar Pradesh, Maharashtra, and Karnataka fell by Rs 10-20 per quintal. In the short to medium term, the start of the crushing campaign is likely to keep prices stable.
S-grade sugar traded between Rs. 3,630 and Rs. 3,670 per quintal in Kolhapur, whereas M-grade sugar ranged between Rs. 3,930 and Rs. 3,960. According to Agrimandi.live, 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 November, 07 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3600 to 3650 |
₹3700 to 3750 |
|
Karnataka |
₹3650 to 3685 |
₹3735 |
|
Uttar Pradesh |
|
₹3875 to 3960 |
|
Gujarat |
₹3681 to 3721 |
₹3761 to 3801 |
|
Tamil Nadu |
₹3725 to 3850 |
₹3785 to 3900 |
|
Madhya Pradesh |
₹3865 to 3875 |
₹3920 to 3945 |
|
Punjab |
₹4000 to 4200 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on November, 07 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,147.50 |
|
Kanpur |
M/30 |
₹4,116.00 |
|
Kolhapur |
M/30 |
₹3,937.50 |
|
Kolkata |
M/30 |
₹4,168.50 |
|
Muzaffarnagar |
M/30 |
₹4,116.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $769.00 ton, whereas the New York Sugar #11 front month contract is trading at 28.10 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.264 whereas USD was trading with BRL at 4.8815, Crude futures traded at ₹6627, Crude WTI traded at $79.33 barrel. Sensex closed 16.29 points lower at 64942.40 whereas Nifty ended 5.05 points lower at 19406.70
News Round-Up
Haryana increases sugarcane price to Rs 386 per quintal
Punjab: Construction of new yard at Cooperative sugar mill to be completed by November 20
Punjab: Construction of new yard at Cooperative sugar mill to be completed by November 20
Kolhapur: Sugar mills appeal to farmers for uninterrupted supply of sugarcane
Kolhapur: Sugar mills appeal to farmers for uninterrupted supply of sugarcane
India, Bhutan agree to extend energy partnership to non-hydro renewables, e-mobility
India, Bhutan agree to extend energy partnership to non-hydro renewables, e-mobility
APEDA signs MoU to promote Indian agricultural products in Gulf countries
APEDA signs MoU to promote Indian agricultural products in Gulf countries
