ChiniMandi, Mumbai: 13th April 2023
Government Announcement
In a notification issued on 11th day of April 2023, the food ministry has allocated an additional 2 LMT monthly sugar quota for April 2023. Earlier this month, the Centre had allocated 22 LMT to 525 sugar mills across the country.
Domestic Market
Today’s market conditions indicate a sluggish demand, prices have been the same following yesterday’s cooldown.
Ex-mill Sugar Prices as on April, 13 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3380 to 3450 |
₹3530 to 3580 |
|
Karnataka |
₹3530 to 3575 |
₹3580 to 3625 |
|
Uttar Pradesh |
|
₹3640 to 3705 |
|
Gujarat |
₹3481 to 3511 |
₹3551 to 3581 |
|
Tamil Nadu |
₹3550 to 3620 |
₹3625 to 3650 |
|
Madhya Pradesh |
₹3640 to 3675 |
₹3700 to 3745 |
|
Punjab |
₹3695 to 3741 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on April, 13 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3,955.35 |
|
Kanpur |
M/30 |
₹3,911.25 |
|
Kolhapur |
M/30 |
₹3,717.00 |
|
Kolkata |
M/30 |
₹4,121.25 |
|
Muzaffarnagar |
M/30 |
₹3,879.75 |
International Market
Sugar prices are rallying on tighter global supplies. At the time of writing this update London White Sugar #5 front month contract is trading at $704.40/ton, whereas the New York Sugar #11 front month contract is trading at 24.45 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 81.856 whereas USD was trading with BRL at 4.9190, Crude futures traded at ₹6786, Crude WTI traded at $83.04/barrel. Sensex closed 38.23 points higher at 60431.00 whereas Nifty ended 15.60 points higher at 17828.00
News Round-Up
India’s overall exports up by 14 per cent to USD 770 bn in 2022-23: Piyush Goyal
India’s overall exports up by 14 per cent to USD 770 bn in 2022-23: Piyush Goyal
Sugarcane crushing in Brazil remains lower in late March
Sugar mill election: Both parties declare their candidates
FM Sitharaman calls for timely debt restructuring to counter global debt crisis
FM Sitharaman calls for timely debt restructuring to counter global debt crisis
Rupee rises 18 paise to 81.93 against US dollar in early trade
Rupee rises 18 paise to 81.93 against US dollar in early trade
Co-op sugar mills to be prioritised for ethanol procurement at par with private companies
Co-op sugar mills to be prioritised for ethanol procurement at par with private companies
