ChiniMandi, Mumbai: 21st December 2023
Domestic Market
Domestic sugar prices reported to be stable
According to reports, sugar prices in the major markets are stable. As the crushing season continues, prices are expected to fall; buyers prefer hand to mouth. There is reportedly less demand at tender prices, but there is strong resale demand.
M-grade sugar in Muzaffarnagar trades in the range of Rs 3,800 and Rs 3,840 per quintal, whereas S-grade sugar in Kolhapur is between Rs 3,560 and Rs 3,620 per quintal. According to Agrimandi, S grade sugar will trade in Kolhapur markets in the next two weeks for between Rs 3,500 and Rs 3,650 per quintal.
Ex-mill Sugar Prices as on December, 21 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3610 to 3650 |
₹3690 to 3730 |
|
Karnataka |
₹3675 |
₹3750 |
|
Uttar Pradesh |
|
₹3695 to 3805 |
|
Gujarat |
₹3625 to 3651 |
₹3711 to 3741 |
|
Tamil Nadu |
₹3750 to 3875 |
₹3820 to 3900 |
|
Madhya Pradesh |
₹3751 to 3771 |
₹3801 to 3821 |
|
Punjab |
₹3900 to 3941 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on December, 21 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,042.50 |
|
Kanpur |
M/30 |
₹4,000.50 |
|
Kolhapur |
M/30 |
₹3,874.50 |
|
Kolkata |
M/30 |
₹4,063.50 |
|
Muzaffarnagar |
M/30 |
₹4,000.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $596.80 ton, whereas the New York Sugar #11 front month contract is trading at 20.57 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.261 whereas USD was trading with BRL at 4.9146, Crude futures traded at ₹6179, Crude WTI traded at $74.05 barrel. Sensex closed 358.79 points higher at 70865.10 whereas Nifty ended 104.90 points higher at 21255.05
News Round-Up
Uttar Pradesh: RLD to hold protest on December 26 if sugarcane price not announced soon
Uttar Pradesh: RLD to hold protest on December 26 if sugarcane price not announced soon
Impact of El Nino on sugar production; steps needed to mitigate weather impact
Impact of El Nino on sugar production; steps needed to mitigate weather impact
Sugar mills earned revenue of more than Rs 94,000 crores from sale of ethanol: Government
Sugar mills earned revenue of more than Rs 94,000 crores from sale of ethanol: Government
West Bengal: Ethanol and other projects to come up in Malda district
West Bengal: Ethanol and other projects to come up in Malda district
Sensex ends 359 points higher, Nifty nears 21,250
