ChiniMandi, Mumbai: 22nd May 2023
Domestic Market
Domestic sugar prices were mixed today
Domestic sugar prices rose in Kolhapur today, but fell in Kolkata, Muzaffarnagar, and Delhi. According to the marketman, prices in Kolhapur increased by Rs 15 per quintal, while prices in Muzaffarnagar, Delhi, and Kolkata decreased by Rs 10-20 per quintal. Sugar prices in Muzaffarnagar (M grade) ranged from Rs 3,600 to Rs 3,620 per quintal, while those in Kolhapur (S grade) ranged from Rs 3,390-3,430.
According to Agrimandi.live, prices will continue to trade steadily with a positive bias, with limited downside. In the near future, we expect prices in the Kolhapur markets to trade between Rs 3,380 and Rs 3,460 per quintal.
Ex-mill Sugar Prices as on May, 22 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3390 to 3400 |
₹3490 to 3500 |
|
Karnataka |
₹3550 to 3575 |
₹3600 to 3625 |
|
Uttar Pradesh |
|
₹3575 to 3675 |
|
Gujarat |
₹3481 to 3511 |
₹3571 to 3586 |
|
Tamil Nadu |
₹3500 to 3600 |
₹3700 |
|
Madhya Pradesh |
₹3550 to 3580 |
₹3620 to 3650 |
|
Punjab |
₹3660 to 3701 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on May, 22 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3,839.85 |
|
Kanpur |
M/30 |
₹3,785.25 |
|
Kolhapur |
M/30 |
₹3,690.75 |
|
Kolkata |
M/30 |
₹3,958.50 |
|
Muzaffarnagar |
M/30 |
₹3,769.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $711.40/ton, whereas the New York Sugar #11 front month contract is trading at 25.84 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 82.857 whereas USD was trading with BRL at 4.9983, Crude futures traded at ₹5971, Crude WTI traded at $71.84/barrel. Sensex closed 234.00 points higher at 61963.68 whereas Nifty ended 111.00 points higher at 18314.40
News Round-Up
Uttar Pradesh overtakes Maharashtra in sugar production
Commodity prices, barring precious metals, likely to moderate in 2023: Finance Ministry
Commodity prices, barring precious metals, likely to moderate in 2023: Finance Ministry
Heatwave alert issued for several states for today, says IMD scientist
Heatwave alert issued for several states for today, says IMD scientist
World Sugar Market – Weekly Comment – Episode 90
Sensex ends 234 points higher, Nifty above 18,300
