ChiniMandi, Mumbai: 18th December 2023
Domestic Market
Domestic sugar prices continued to be stable
Sugar prices have been reported to be stable across the major markets, having been weak since the start of the week. Trading activity was said to be light. Due to the ongoing crushing season, prices are expected to remain low; buyers prefer hand-to-mouth transactions.
In Kolhapur, S-grade sugar costs between Rs 3,560 and Rs 3,620 per quintal, while M-grade sugar costs between Rs 3,800 and Rs 3,850 per quintal in Muzaffarnagar. According to Agrimandi, S grade sugar will trade in Kolhapur markets between Rs 3,450 and Rs 3,650 over the next two weeks.
Ex-mill Sugar Prices as on December, 18 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3640 to 3680 |
₹3720 to 3730 |
|
Karnataka |
₹3675 to 3690 |
₹3725 to 3750 |
|
Uttar Pradesh |
|
₹3695 to 3805 |
|
Gujarat |
₹3571 to 3601 |
₹3651 to 3681 |
|
Tamil Nadu |
₹3750 to 3875 |
₹3835 to 3900 |
|
Madhya Pradesh |
₹3751 to 3771 |
₹3801 to 3821 |
|
Punjab |
₹3930 to 4001 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on December, 18 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,074.00 |
|
Kanpur |
M/30 |
₹4,026.75 |
|
Kolhapur |
M/30 |
₹3,874.50 |
|
Kolkata |
M/30 |
₹4,063.50 |
|
Muzaffarnagar |
M/30 |
₹4,026.75 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $616.30 ton, whereas the New York Sugar #11 front month contract is trading at 21.54 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.061 whereas USD was trading with BRL at 4.9414, Crude futures traded at ₹5965, Crude WTI traded at $72.29 barrel. Sensex closed 168.66 points lower at 71315.09 whereas Nifty ended 38.00 points lower at 21418.65
News Round-Up
Govt should allow ethanol production from surplus FCI rice and increase maize/broken rice based ethanol price to achieve 12% ethanol blending in 2023-24: Abinash Verma
Season 2023-24: India’s Sugar production down by 7.50 lakh tonnes till December 15
Season 2023-24: India’s Sugar production down by 7.50 lakh tonnes till December 15
RLD protests sugarcane price announcement delay in Uttar Pradesh
RLD protests sugarcane price announcement delay in Uttar Pradesh
Sensex ends 169 points lower, Nifty below 21,450
Assam aims to attain food self-sufficiency: Assam CM Himanta Sarma
Assam aims to attain food self-sufficiency: Assam CM Himanta Sarma
