ChiniMandi, Mumbai: 15th September 2023
Domestic Market
Domestic sugar prices bullish
Domestic sugar prices increased by 10-20 per quintal . The major cane-growing regions of Maharashtra and Karnataka are reportedly experiencing dry weather, which could further reduce the cane yields in turn sugar production. As traders and stockists await notification of the stock limit, demand is reportedly muted.
In Muzaffarnagar, a quintal is reported to cost between Rs. 3,750 and 3,780, while in Kolhapur, it costs between Rs. 3,610 and 3,640. A quintal of S grade sugar will cost between Rs 3,580 and Rs 3,700 in Kolhapur markets.
Ex-mill Sugar Prices as on September, 15 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3640 to 3670 |
₹3740 to 3770 |
|
Karnataka |
₹3680 to 3700 |
– |
|
Uttar Pradesh |
|
₹3760 to 3860 |
|
Gujarat |
₹3621 to 3671 |
₹3721 to 3761 |
|
Tamil Nadu |
₹3720 to 3825 |
₹3825 to 3875 |
|
Madhya Pradesh |
₹3760 to 3775 |
₹3830 to 3845 |
|
Punjab |
₹3870 to 4001 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on September, 15 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,021.50 |
|
Kanpur |
M/30 |
₹3,979.50 |
|
Kolhapur |
M/30 |
₹3,927.00 |
|
Kolkata |
M/30 |
₹4,137.00 |
|
Muzaffarnagar |
M/30 |
₹4,000.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $764.00 ton, whereas the New York Sugar #11 front month contract is trading at 27.57 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.162 whereas USD was trading with BRL at 4.8707, Crude futures traded at ₹7528, Crude WTI traded at $90.56 barrel. Sensex closed 319.63 points higher at 67838.63 whereas Nifty ended 89.25 points higher at 20192.35
News Round-Up
Maharashtra government restricts sugarcane export outside the state
Maharashtra government restricts sugarcane export outside the state
Kharif crop sowing crosses 1,095 lakh hectares
Oil India to invest Rs 8,000 crore in ethanol projects
Farmer behaviour plays essential role in managing livestock diseases: Study
Farmer behaviour plays essential role in managing livestock diseases: Study
Sensex ends 320 points higher, Nifty nears 20,200
