ChiniMandi, Mumbai: 20th October 2023
Domestic Market
Domestic sugar prices continued to remain stable
Sugar prices in the major domestic market are expected to remain stable for the second session due to weak demand. Despite the start of the festive season, demand is said to be low. Due to market tightness and the delay in the start of crushing, prices are expected to trade firmer in the short term.
In Kolhapur, S-grade sugar is priced between Rs. 3,640 and 3,680 per quintal, while M-grade sugar is priced between Rs. 3,870 and 3,900 per quintal in Muzaffarnagar. Agrimandi.live estimates that S grade sugar will cost between Rs 3,620 and Rs 3,700 in Kolhapur markets.
Ex-mill Sugar Prices as on October, 20 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3620 to 3680 |
₹3720 to 3780 |
|
Karnataka |
₹3650 to 3675 |
₹3725 to 3730 |
|
Uttar Pradesh |
|
₹3850 to 3945 |
|
Gujarat |
₹3700 to 3771 |
₹3780 to 3811 |
|
Tamil Nadu |
₹3700 to 3825 |
₹3875 |
|
Madhya Pradesh |
₹3765 to 3845 |
₹3865 to 3915 |
|
Punjab |
₹3980 to 4200 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on October, 20 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,126.50 |
|
Kanpur |
M/30 |
₹4,084.50 |
|
Kolhapur |
M/30 |
₹3,958.50 |
|
Kolkata |
M/30 |
₹4,137.00 |
|
Muzaffarnagar |
M/30 |
₹4,100.25 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $729.80 ton, whereas the New York Sugar #11 front month contract is trading at 26.98 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.099 whereas USD was trading with BRL at 5.0648, Crude futures traded at ₹7452, Crude WTI traded at $89.73 barrel. Sensex closed 231.62 points lower at 65397.62 whereas Nifty ended 82.05 points lower at 19542.65
News Round-Up
Congress will revive sugar mills in Telangana: Rahul Gandhi in Jagtial
Congress will revive sugar mills in Telangana: Rahul Gandhi in Jagtial
Maharashtra to ban export of molasses in 2023-24 season
Sugar hoarding surges in Pakistan; government recovers 6,994 metric tonnes
Sugar hoarding surges in Pakistan; government recovers 6,994 metric tonnes
Amit Shah emphasises on ensuring procurement of maize from farmers by NCCF along with its associate companies for ethanol production
Sensex ends 232 points lower, Nifty below 19,550
