ChiniMandi, Mumbai: 12th September 2023
Domestic Market
Domestic sugar prices traded stable after two weak sessions
Despite the news of a stock limit, domestic sugar prices remained stable after trading lower for two sessions. According to market updates, stock limits are anticipated to be 1,500 quintals for wholesalers and 500 quintals for retailers.
According to reports, a quintal costs between Rs 3,750 and 3,780 in Muzaffarnagar and Rs 3,600 and 3,630 in Kolhapur. In Kolhapur markets, a quintal of S grade sugar will cost between Rs 3,580 and Rs 3,700.
Ex-mill Sugar Prices as on September, 12 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3630 to 3660 |
₹3730 to 3760 |
|
Karnataka |
₹3670 to 3725 |
₹3700 to 3775 |
|
Uttar Pradesh |
|
₹3750 to 3830 |
|
Gujarat |
₹3601 to 3651 |
₹3701 to 3741 |
|
Tamil Nadu |
₹3720 to 3825 |
₹3825 to 3875 |
|
Madhya Pradesh |
₹3740 to 3760 |
₹3810 to 3830 |
|
Punjab |
₹3870 to 4001 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on September, 12 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,000.50 |
|
Kanpur |
M/30 |
₹3,958.50 |
|
Kolhapur |
M/30 |
₹3,906.00 |
|
Kolkata |
M/30 |
₹4,116.00 |
|
Muzaffarnagar |
M/30 |
₹3,979.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $731.30 ton, whereas the New York Sugar #11 front month contract is trading at 26.20 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 82.960 whereas USD was trading with BRL at 4.9345, Crude futures traded at ₹7299, Crude WTI traded at $88.00 barrel. Sensex closed 94.05 points higher at 67221.13 whereas Nifty ended 3.15 points lower at 19993.20
News Round-Up
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Philippines: SRA predicts drop in sugar output by 10-15% for 2023-24
Philippines: SRA predicts drop in sugar output by 10-15% for 2023-24
Union Minister Nitin Gadkari for 10 per cent additional GST on diesel cars
Union Minister Nitin Gadkari for 10 per cent additional GST on diesel cars
Sensex ends 94 points higher, Nifty nears 20,000
