ChiniMandi, Mumbai: 18th August 2023
Domestic Market
Domestic prices continue to trade higher
Sugar prices in domestic markets increased for the second session due to strong demand. Prices in the major markets were reported to be higher by Rs 10-20 per quintal. Prices in the Kolhapur market were reported to be in the range of Rs 3,530-3,550 per quintal, while prices in Muzaffarnagar were reported to be in the range of Rs 3,700-3,730 per quintal.
According to AgriMandi.live, S grade will trade between Rs 3,500 and Rs 3,580 per quintal in the Kolhapur markets in the near future.
Ex-mill Sugar Prices as on August, 18 2023 :
| State | S/30
[Rates per Quintal] |
M/30
[Rates per Quintal] |
| Maharashtra | ₹3550 to 3600 | ₹3650 to 3700 |
| Karnataka | ₹3600 | – |
| Uttar Pradesh | ₹3660 to 3745 | |
| Gujarat | ₹3581 to 3601 | ₹3661 to 3681 |
| Tamil Nadu | ₹3650 to 3750 | ₹3760 to 3800 |
| Madhya Pradesh | ₹3735 to 3750 | ₹3805 to 3820 |
| Punjab | ₹3750 to 3830 | |
| (All the above rates are excluding GST) | ||
Destination-wise Spot Prices as on August, 18 2023 :
| City | Grade | Rate |
| Delhi | M/30 | ₹3937.50 |
| Kanpur | M/30 | ₹3885.00 |
| Kolhapur | M/30 | ₹3853.50 |
| Kolkata | M/30 | ₹4053.00 |
| Muzaffarnagar | M/30 | ₹3895.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $690.60 ton, whereas the New York Sugar #11 front month contract is trading at 23.84 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.113 whereas USD was trading with BRL at 4.9770, Crude futures traded at ₹6655, Crude WTI traded at $80.51 barrel. Sensex closed 202.36 points lower at 64948.66 whereas Nifty ended 55.10 points lower at 19310.15
News Round-Up
Fix sugar MSP at Rs 38 per kg to stabilize sugar industry: Raju Shetti
https://www.chinimandi.com/minimum-market-price-of-sugar-rs-38-per-kg-required/
RLD demands govt to clear pending cane dues of farmers immediately
https://www.chinimandi.com/rld-demands-govt-to-clear-pending-cane-dues-of-farmers-immediately/
Conab raises forecast for Brazil’s sugarcane, sugar production
https://www.chinimandi.com/conab-raises-forecast-for-brazils-sugarcane-sugar-production/
Ethanol Boost: Combination of Bio (fuel) – Nano (technology) is need of hour
https://www.chinimandi.com/ethanol-boost-combination-of-bio-fuel-nano-technology-is-need-of-hour/
Sensex ends 202 points lower, Nifty nears 19,300
https://www.chinimandi.com/sensex-ends-202-points-lower-nifty-nears-19300/
