Daily Sugar Market Update By Vizzie – 16/09/2023

ChiniMandi, Mumbai: 16th September 2023

Domestic Market

Domestic sugar prices continued to rise

Domestic sugar prices increased by Rs 10 per quintal on good festive demand. Demand for tender were reported lower while for resale there’s a good demand.

Moreover, 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. Expected lower production is likely to support prices in the long term.

In Muzaffarnagar, a quintal is reported to cost between Rs. 3,760 and 3,790, while in Kolhapur, it costs between Rs. 3,620 and 3,650. According to AgriMandi , prices of S grade sugar is likely to trade between Rs 3,580 and Rs 3,700 in Kolhapur markets in the short term.

Ex-mill Sugar Prices as on September, 16 2023 :

State

S/30

[Rates per Quintal]

M/30

[Rates per Quintal]

Maharashtra

₹3655 to 3680

₹3755 to 3780

Karnataka

₹3700

Uttar Pradesh

₹3760 to 3860

Gujarat

₹3631 to 3681

₹3731 to 3771

Tamil Nadu

₹3720 to 3825

₹3825 to 3875

Madhya Pradesh

₹3755 to 3770

₹3825 to 3840

Punjab

₹3870 to 4001

(All the above rates are excluding GST)

Destination-wise Spot Prices as on September, 16 2023 :

City

Grade

Rate

Delhi

M/30

₹4,032.00

Kanpur

M/30

₹3,990.00

Kolhapur

M/30

₹3,937.50

Kolkata

M/30

₹4,147.50

Muzaffarnagar

M/30

₹4,011.00

News Round-Up

ChiniMandi awarded as ‘India’s largest media and networking platform for sugar & allied industry’ by Cogen India

ChiniMandi awarded as ‘India’s largest media and networking platform for sugar & allied industry’ by Cogen India

Farmers should cultivate new variety of sugarcane: Experts

Farmers should cultivate new variety of sugarcane: Experts

Sugarcane production increases in Khulna division of Bangladesh

Sugarcane production increases in Khulna division of Bangladesh

PM Narendra Modi Laid the Foundation Stone for Rs 49,000 Crore Petrochemicals Project at BPCL’s Bina Refinery in MP

PM Narendra Modi Laid the Foundation Stone for Rs 49,000 Crore Petrochemicals Project at BPCL’s Bina Refinery in MP

Govt hikes windfall tax on domestic crude, reduces levy on export of diesel

Govt hikes windfall tax on domestic crude, reduces levy on export of diesel

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