Daily Sugar Market Update By Vizzie – 10/08/2023
ChiniMandi, Mumbai: 10th August 2023
Domestic Market
Sugar prices in domestic markets reported stable
Sugar prices in major domestic markets have remained stable, owing to lower demand at current prices. Prices in Kolhapur and Muzaffarnagar were reported stable. Moreover, Food ministry report of ending stocks at 10.8 MMT is likely to weigh on prices in the remaining months of the season.
In Kolhapur, S-grade sugar continued to trade in the range of 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, 10 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3510 to 3550 |
₹3610 to 3650 |
|
Karnataka |
₹3570 to 3600 |
₹3650 |
|
Uttar Pradesh |
|
₹3650 to 3730 |
|
Gujarat |
₹3551 to 3571 |
₹3631 to 3651 |
|
Tamil Nadu |
₹3600 to 3700 |
₹3710 to 3750 |
|
Madhya Pradesh |
₹3715 to 3730 |
₹3785 to 3790 |
|
Punjab |
₹3765 to 3831 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on August, 10 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 $689.60 ton, whereas the New York Sugar #11 front month contract is trading at 23.84 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 82.639 whereas USD was trading with BRL at 4.8655, Crude futures traded at ₹6947, Crude WTI traded at $84.02 barrel. Sensex closed 307.63 points lower at 65688.18 whereas Nifty ended 89.45 points lower at 19543.10
Farmers demand hike in Sugarcane price to Rs 580 per quintal
https://www.chinimandi.com/farmers-demand-hike-in-sugarcane-price-to-rs-580-per-quintal/
Uttar Pradesh: Sugarcane clinics to assist cane farmers
https://www.chinimandi.com/uttar-pradesh-sugarcane-clinics-to-assist-cane-farmers/
Karnataka: Poor rainfall affects crop cultivation
https://www.chinimandi.com/karnataka-poor-rainfall-affects-crop-cultivation/
RBI keeps repo rate unchanged in third straight policy meet
https://www.chinimandi.com/rbi-keeps-repo-rate-unchanged-in-third-straight-policy-meet/
Sensex ends 308 points lower, Nifty below 19,550
https://www.chinimandi.com/sensex-ends-308-points-lower-nifty-below-19550/
