ChiniMandi, Mumbai: 19th May 2023
Domestic Market
Prices of domestic sugar stayed constant
On the domestic market, sugar prices remained stable. Sugar prices in domestic markets are being supported by rising temperatures and a decrease in supply. In Muzaffarnagar (M grade), quintal sugar costs between Rs 3,610 and Rs 3,630, while prices in Kolhapur (S grade) are still in the range of Rs 3,390-3,430.
Agrimandi.live predicts that prices will continue to trade strongly in the upcoming months with little room for decline. We anticipate that prices in the Kolhapur markets will fluctuate between Rs 3,380 and Rs 3,460 per quintal in the near future.
Ex-mill Sugar Prices as on May, 19 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3386 to 3420 |
₹3470 to 3500 |
|
Karnataka |
₹3550 to 3575 |
₹3600 to 3625 |
|
Uttar Pradesh |
|
₹3575 to 3675 |
|
Gujarat |
₹3435 to 3471 |
₹3515 to 3541 |
|
Tamil Nadu |
₹3515 to 3600 |
₹3700 |
|
Madhya Pradesh |
₹3550 to 3580 |
₹3620 to 3650 |
|
Punjab |
₹3670 to 3701 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on May, 19 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3,853.50 |
|
Kanpur |
M/30 |
₹3,801.00 |
|
Kolhapur |
M/30 |
₹3,680.25 |
|
Kolkata |
M/30 |
₹3,990.00 |
|
Muzaffarnagar |
M/30 |
₹3,780.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $714.20/ton, whereas the New York Sugar #11 front month contract is trading at 25.91 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 82.707 whereas USD was trading with BRL at 4.9662, Crude futures traded at ₹6015, Crude WTI traded at $72.75/barrel. Sensex closed 297.94 points higher at 61729.68 whereas Nifty ended 73.45 points higher at 18203.40
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