ChiniMandi, Mumbai: 10th July 2023
Domestic Market
Sugar prices traded weak on subdued demand
Domestic sugar prices were trading low due to weak demand. Recent price increases in Maharashtra markets are also putting pressure on prices. Furthermore, good rainfall activity in Central and North India is weighing on prices, while demand is said to be lower. The price range for S grades in Kolhapur was between Rs. 3,460 and Rs. 3,500, while the price range for M grades was between Rs. 3,640 and Rs. 3,670.
In Kolhapur markets, S grade is expected to cost between Rs 3,400 and Rs 3,550 per quintal, according to AgriMandi.live.
Ex-mill Sugar Prices as on July, 10 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3470 to 3510 |
₹3570 to 3610 |
|
Karnataka |
₹3565 to 3600 |
– |
|
Uttar Pradesh |
|
₹3630 to 3725 |
|
Gujarat |
₹3521 to 3531 |
₹3611 to 3631 |
|
Tamil Nadu |
₹3600 to 3700 |
₹3680 to 3750 |
|
Madhya Pradesh |
₹3660 to 3675 |
₹3730 to 3745 |
|
Punjab |
₹3700 to 3751 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on July, 10 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3906.00 |
|
Kanpur |
M/30 |
₹3843.00 |
|
Kolhapur |
M/30 |
₹3790.50 |
|
Kolkata |
M/30 |
₹4000.50 |
|
Muzaffarnagar |
M/30 |
₹3843.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $661.30 ton, whereas the New York Sugar #11 front month contract is trading at 23.36 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 82.601 whereas USD was trading with BRL at 4.8658, Crude futures traded at ₹6072, Crude WTI traded at $73.52 barrel. Sensex closed 63.72 points higher at 65344.17 whereas Nifty ended 24.10 points higher at 19355.90
News Round-Up
Millers demand increase in sugar MSP as sugarcane FRP rises
Philippines to import 150,000 MT of additional sugar in September
Philippines to import 150,000 MT of additional sugar in September
Uttar Pradesh govt forms 4-level committee to implement Agri Stack scheme in UP
Uttar Pradesh govt forms 4-level committee to implement Agri Stack scheme in UP
Karnataka: Raichur Bio Energies plans to set up ethanol plant
Karnataka: Raichur Bio Energies plans to set up ethanol plant
CM Yogi reviews flood, waterlogging situation and relief work in UP amid heavy rain
CM Yogi reviews flood, waterlogging situation and relief work in UP amid heavy rain
