ChiniMandi, Mumbai: 8th December 2023
Domestic Market
Domestic sugar prices continue to fall
Sugar prices in the major domestic markets have been reported to be lower due to weak demand. Prices per quintal have dropped by Rs 10-20 per quintal, according to reports. Because prices are expected to remain low due to the ongoing crushing season, buyers prefer hand to mouth.
In Kolhapur, S-grade sugar costs between Rs 3,580 and Rs 3,640 per quintal, whereas M-grade sugar costs between Rs 3,900 and Rs 3,960 per quintal in Muzaffarnagar. According to Agrimandi.live, S grade sugar in Kolhapur markets is likely to trade near Rs 3,500 in the next two weeks.
Ex-mill Sugar Prices as on December, 08 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3610 to 3650 |
₹3680 to 3730 |
|
Karnataka |
₹3690 to 3700 |
₹3750 |
|
Uttar Pradesh |
|
₹3740 to 3845 |
|
Gujarat |
₹3621 to 3661 |
₹3701 to 3741 |
|
Tamil Nadu |
₹3780 to 3800 |
₹3830 to 3900 |
|
Madhya Pradesh |
₹3830 |
– |
|
Punjab |
₹4131 to 4151 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on December, 08 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,116.00 |
|
Kanpur |
M/30 |
₹4,074.00 |
|
Kolhapur |
M/30 |
₹3,885.00 |
|
Kolkata |
M/30 |
₹4,105.50 |
|
Muzaffarnagar |
M/30 |
₹4,074.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $650.60 ton, whereas the New York Sugar #11 front month contract is trading at 23.19 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.389 whereas USD was trading with BRL at 4.9083, Crude futures traded at ₹5899, Crude WTI traded at $70.59 barrel. Sensex closed 303.91 points higher at 69825.60 whereas Nifty ended 68.25 points higher at 20969.40
News Round-Up
WISMA urges govt to revise sugar MSP to Rs 3,700 per quintal to compensate losses due to huge reduction in ethanol production
Pakistan: Millers claim sugar industry is in crisis
Pilibhit: BKU demands compensation for farmers who faced delays in harvesting sugarcane crop
Pilibhit: BKU demands compensation for farmers who faced delays in harvesting sugarcane crop
Centre revises wheat stock limits for traders/wholesalers, retailers, big chain retailers and processors
Per-acre expenditure cost of wheat, rice should be reduced: Nitin Gadkari
Per-acre expenditure cost of wheat, rice should be reduced: Nitin Gadkari
Sensex ends 304 points higher, Nifty above 20,950
