ChiniMandi, Mumbai: 17th August 2023
Domestic Market
Domestic prices traded higher
Sugar prices are reported to be higher in the major markets of Maharashtra and Uttar Pradesh. There are no takers for sugar priced between Rs 3,580 and Rs 3,600 per quintal, despite demand being very strong at lower price points, i.e., Rs 3,520–3,530 per quintal. The majority of consumers continue to remain hand to mouth, which keeps prices in check.
S-grade sugar was priced between Rs 3,520 and Rs 3,540 in Kolhapur, while M-grade sugar was priced between Rs 3,680 and Rs 3,720 in Uttar Pradesh. According to AgriMandi.live, S grade will trade in the Kolhapur markets between Rs 3,500 and Rs 3,580 per quintal in the near future.
Ex-mill Sugar Prices as on August, 17 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3550 to 3600 |
₹3650 to 3700 |
|
Karnataka |
₹3580 |
₹3600 |
|
Uttar Pradesh |
|
₹3650 to 3740 |
|
Gujarat |
₹3581 to 3601 |
₹3661 to 3681 |
|
Tamil Nadu |
₹3625 to 3725 |
₹3725 to 3775 |
|
Madhya Pradesh |
₹3750 |
₹3820 |
|
Punjab |
₹3730 to 3830 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on August, 17 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3927.00 |
|
Kanpur |
M/30 |
₹3874.50 |
|
Kolhapur |
M/30 |
₹3843.00 |
|
Kolkata |
M/30 |
₹4032.00 |
|
Muzaffarnagar |
M/30 |
₹3885.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $709.90 ton, whereas the New York Sugar #11 front month contract is trading at 24.59 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.089 whereas USD was trading with BRL at 4.9883, Crude futures traded at ₹6653, Crude WTI traded at $80.17 barrel. Sensex closed 388.40 points lower at 65151.02 whereas Nifty ended 99.75 points lower at 19365.25
News Round-Up
Heavy rainfall expected in Brazil’s sugar-producing regions in next 10 Days
https://www.chinimandi.com/heavy-rainfall-expected-in-brazils-sugar-producing-regions-in-next-10-days/
Egypt to start sugar trading on commodities exchange
https://www.chinimandi.com/egypt-to-start-sugar-trading-on-commodities-exchange/
NSI empowers change: Girl students keen to make career in sugar industry
https://www.chinimandi.com/nsi-empowers-change-girl-students-keen-to-make-career-in-sugar-industry/
Chandrayaan-3 marks giant leap, lander successfully separates from propulsion module
https://www.chinimandi.com/chandrayaan-3-marks-giant-leap-lander-successfully-separates-from-propulsion-module/
Sensex ends 388 points lower, Nifty below 19,400
https://www.chinimandi.com/sensex-ends-388-points-lower-nifty-below-19400/
