ChiniMandi, Mumbai: 20th November 2023
Domestic Market
Domestic sugar prices continue to be stable
Sugar prices have been reported to be stable in the major domestic markets for the second session. According to reports, demand is low. Previous season sugar prices are trading at a discount to new season sugar prices of Rs 100-160 per quintal.
The crushing campaign began in Uttar Pradesh, with approximately 98 mills operating; 57 mills operating in Karnataka; and 133 mills operating in Maharashtra. Prices are expected to remain stable in the short to medium term as the crushing campaign begins.
S-grade sugar in Kolhapur cost between Rs 3,630 and Rs 3,660 per quintal, while M-grade sugar in Muzaffarnagar cost between Rs 3,980 and Rs 4,040. According to Agrimandi.live, S grade sugar will trade in Kolhapur markets for between Rs 3,600 and Rs 3,720 over the next two weeks.
Ex-mill Sugar Prices as on November, 20 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3640 to 3700 |
₹3740 to 3800 |
|
Karnataka |
₹3660 to 3700 |
₹3750 |
|
Uttar Pradesh |
|
₹3845 to 3945 |
|
Gujarat |
₹3701 to 3741 |
₹3781 to 3821 |
|
Tamil Nadu |
₹3750 to 3825 |
₹3800 to 3875 |
|
Madhya Pradesh |
₹3850 |
₹3900 |
|
Punjab |
₹3950 to 4250 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on November, 20 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,242.00 |
|
Kanpur |
M/30 |
₹4,200.00 |
|
Kolhapur |
M/30 |
₹3,927.00 |
|
Kolkata |
M/30 |
₹4,210.50 |
|
Muzaffarnagar |
M/30 |
₹4,200.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $738.40 ton, whereas the New York Sugar #11 front month contract is trading at 27.23 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.355 whereas USD was trading with BRL at 4.9064, Crude futures traded at ₹6444, Crude WTI traded at $77.06 barrel. Sensex closed 139.58 points lower at 65655.15 whereas Nifty ended 37.80 points lower at 19694.00
News Round-Up
2023-24 season: 133 sugar mills start crushing operations in Maharashtra
2023-24 season: 133 sugar mills start crushing operations in Maharashtra
Karnataka: Farmers associations demand higher prices for sugarcane
Karnataka: Farmers associations demand higher prices for sugarcane
Stubble burning: Punjab Police registers 932 FIRs since Nov 8; imposes Rs 1.67 crore fine in 7405 cases
L&T Energy Hydrocarbon bags Rs 10-15k crore worth orders in Middle East
L&T Energy Hydrocarbon bags Rs 10-15k crore worth orders in Middle East
Sensex ends 140 points lower, Nifty below 19,700
