Daily Sugar Market Update By Vizzie – 18/07/2023

ChiniMandi, Mumbai: 18th July 2023

Domestic Market

Sugar prices reported stable

Domestic sugar prices were reported to be steady in the major markets. Demand is reported to be subdued in Uttar Pradesh while its good in Maharashtra.

In Kolhapur, S grades ranged from Rs 3,480 to Rs 3,520, while M grades in Muzaffarnagar cost between Rs 3,630 and Rs 3,670.

Agrimandi.live estimates that the price for S grade in the Kolhapur markets will range between Rs 3,440 and Rs 3,550 per quintal.

Ex-mill Sugar Prices as on  July, 18 2023 :

Destination-wise Spot Prices as on July, 18 2023 :

International Market

At the time of writing this update London White Sugar #5 front month contract is trading at $669.50 ton, whereas the New York Sugar #11 front month contract is trading at 23.82 c/lb.

Currency, Commodity & Indian Indices

The rupee traded against the US dollar at 82.050 whereas USD was trading with BRL at 4.8095, Crude futures traded at ₹6111, Crude WTI traded at $74.46 barrel. Sensex closed 205.21 points higher at 66795.14 whereas Nifty ended 37.80 points higher at 19749.25

News Round-Up

Government urges mills to furnish domestic sugar sales data

Government urges mills to furnish domestic sugar sales data

Ethanol from UP will be used to power world’s aeroplanes in coming times: Nitin Gadkari

Ethanol from UP will be used to power world’s aeroplanes in coming times: Nitin Gadkari

RBI Governor meets World Bank President during G20 meeting

RBI Governor meets World Bank President during G20 meeting

Met office predicts heavy rain in several districts of Madhya Pradesh

Met office predicts heavy rain in several districts of Madhya Pradesh

DGFT implements the Advance Authorisation Scheme, allows duty-free import of inputs for export purposes

DGFT implements the Advance Authorisation Scheme, allows duty-free import of inputs for export purposes