ChiniMandi, Mumbai: 21st June 2023
Domestic Market
Firm sentiment continued in major centers
Sugar prices have remained firm in major markets due to strong demand. In the major markets, prices have risen by Rs 10-20 per quintal. Prices in Kolhapur (S grade) ranged from Rs 3,460 to Rs 3,500, while Muzaffarnagar (M grade) prices ranged from Rs 3,650 to Rs 3,680.
Prices are being supported by lower rainfall activity in the major cane growing regions of West Maharashtra and North Karnataka. Prices in Kolhapur rose as expected to Rs 3,480 per quintal, and Agrimandi.live expects prices to trade stable to firm in the coming week due to strong demand. In the near future, prices in the Kolhapur markets are expected to trade near Rs 3,500/3,520 per quintal, with a support level of Rs 3,390 per quintal.
Ex-mill Sugar Prices as on June, 21 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3430 to 3460 |
₹3530 to 3560 |
|
Karnataka |
₹3590 to 3650 |
– |
|
Uttar Pradesh |
|
₹3620 to 3735 |
|
Gujarat |
₹3521 to 3561 |
₹3621 to 3641 |
|
Tamil Nadu |
₹3625 to 3700 |
₹3710 |
|
Madhya Pradesh |
₹3635 to 3650 |
₹3700 to 3720 |
|
Punjab |
₹3710 to 3781 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on June, 21 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3948.00 |
|
Kanpur |
M/30 |
₹3885.00 |
|
Kolhapur |
M/30 |
₹3780.00 |
|
Kolkata |
M/30 |
₹4011.00 |
|
Muzaffarnagar |
M/30 |
₹3885.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $699.40 ton, whereas the New York Sugar #11 front month contract is trading at 26.13 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 82.011 whereas USD was trading with BRL at 4.7907, Crude futures traded at ₹5850, Crude WTI traded at $71.22 barrel. Sensex closed 195.45 points higher at 63523.15 whereas Nifty ended 40.15 points higher at 18856.85
News Round-Up
Sugarcane crushing season ends in UP: Sugar production, sugarcane crushing and payment updates
Sugarcane crushing season ends in UP: Sugar production, sugarcane crushing and payment updates
Karnataka: Mrinal Sugars plans to set up sugar plant in Dharwad
Karnataka: Mrinal Sugars plans to set up sugar plant in Dharwad
Eligible farmers to get benefitted from Kisan Samman Nidhi in Uttar Pradesh
Eligible farmers to get benefitted from Kisan Samman Nidhi in Uttar Pradesh
830 lakh tonne paddy procured benefiting 1.22 crore farmers: Food ministry
830 lakh tonne paddy procured benefiting 1.22 crore farmers: Food ministry
Sensex ends 195 points higher, Nifty above 18,850
