Domestic sugar prices traded stable
Sugar prices in the major domestic market remained stable after rising last week. Prices are expected to trade higher due to the delayed start of the crushing season and the upcoming festive season. Demand is said to be low in today’s session.
In Kolhapur, quintals of S-grade sugar cost between Rs. 3,650 and 3,690, while quintals of M-grade sugar cost between Rs. 3,880 and 3,910. According to AgriMandi, S grade sugar in Kolhapur markets will cost between Rs 3,620 and Rs 3,700.
Ex-mill Sugar Prices as on October, 16 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3660 to 3710 |
₹3760 to 3810 |
|
Karnataka |
₹3735 to 3750 |
₹3660 to 3700 |
|
Uttar Pradesh |
|
₹3860 to 3955 |
|
Gujarat |
₹3721 to 3780 |
₹3805 to 3850 |
|
Tamil Nadu |
₹3700 to 3825 |
₹3800 to 3875 |
|
Madhya Pradesh |
₹3845 to 3855 |
₹3915 to 3925 |
|
Punjab |
₹3950 to 4150 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on October, 16 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,137.00 |
|
Kanpur |
M/30 |
₹4,100.25 |
|
Kolhapur |
M/30 |
₹3,969.00 |
|
Kolkata |
M/30 |
₹4,147.50 |
|
Muzaffarnagar |
M/30 |
₹4,110.75 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $722.90ton, whereas the New York Sugar #11 front month contract is trading at 26.95 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.263 whereas USD was trading with BRL at 5.0595, Crude WTI traded at $85.72 barrel. Sensex closed 115.81 points lower at 66166.93 whereas Nifty ended 19.30 points lower at 19731.75.
