ChiniMandi, Mumbai: 12th October 2023
Domestic Market
Domestic sugar prices continued to trade higher
For the third session, prices in the major domestic markets have been reported to be firm in the major centers. Prices in major cities increased by Rs 20-30 per quintal due to high demand ahead of the festive season. The Food Ministry has announced a second tranche of 15.0 lakh tons of quota for the month of October, bringing the total quota allocation for the month to 28 lakh tons, the highest ever quota allocation in order to keep prices under control. However, due to the delayed start of the crushing season and the upcoming festive season, prices are expected to trade higher.
In Kolhapur, S-grade sugar quintals cost between Rs. 3,650 and 3,690, while M-grade sugar costs between Rs. 3,880 and 3,910. According to Agrimandi.live, S grade sugar will cost between Rs 3,620 and Rs 3,700 in Kolhapur markets.
Ex-mill Sugar Prices as on October, 12 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3650 to 3700 |
₹3750 to 3800 |
|
Karnataka |
₹3660 to 3675 |
₹3725 to 3735 |
|
Uttar Pradesh |
|
₹3800 to 3930 |
|
Gujarat |
₹3691 to 3750 |
₹3775 to 3820 |
|
Tamil Nadu |
₹3690 to 3800 |
₹3775 to 3850 |
|
Madhya Pradesh |
₹3800 to 3865 |
₹3890 to 3925 |
|
Punjab |
₹3930 to 4150 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on October, 12 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,116.00 |
|
Kanpur |
M/30 |
₹4,074.00 |
|
Kolhapur |
M/30 |
₹3,958.50 |
|
Kolkata |
M/30 |
₹4,137.00 |
|
Muzaffarnagar |
M/30 |
₹4,084.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $713.90 ton, whereas the New York Sugar #11 front month contract is trading at 26.53 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.238 whereas USD was trading with BRL at 5.0501, Crude futures traded at ₹7018, Crude WTI traded at $84.23 barrel. Sensex closed 64.66 points lower at 66408.39 whereas Nifty ended 17.35 points lower at 19794.00
News Round-Up
Country is encouraging flex-fuel vehicles to drive adoption of biofuels: Hardeep Singh Puri
Country is encouraging flex-fuel vehicles to drive adoption of biofuels: Hardeep Singh Puri
Uttar Pradesh: Chhata sugar mill to be revived soon
Sugarcane Research Institute of Fiji improves soil fertility to boost production
Sugarcane Research Institute of Fiji improves soil fertility to boost production
Experts call for balanced technology policies to maximise benefits from GM crops
Experts call for balanced technology policies to maximise benefits from GM crops
Punjab Agricultural University introduces ‘PBW1Chapati’
