ChiniMandi, Mumbai: 22nd August 2023
Domestic Market
Domestic prices traded stable
Sugar prices in domestic markets remained stable, despite an additional quota of 2.0 lakh tons to keep rising prices in check ahead of festive demand. Spot market prices are being supported by lower rainfall activity over major cane growing regions, combined with lower supply.
Prices in Kolhapur were reported to be between Rs 3,540 and Rs 3,560 per quintal, while prices in Muzaffarnagar were reported to be between Rs 3,710 and Rs 3,750. According to AgriMandi.live, S grade will be traded in the Kolhapur markets between Rs 3,500 and Rs 3,580 per quintal in the near future.
Ex-mill Sugar Prices as on August, 22 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3570 to 3620 |
₹3670 to 3720 |
|
Karnataka |
₹3610 to 3650 |
₹3640 |
|
Uttar Pradesh |
|
₹3710 to 3780 |
|
Gujarat |
₹3581 to 3601 |
₹3661 to 3681 |
|
Tamil Nadu |
₹3650 to 3800 |
₹3775 to 3850 |
|
Madhya Pradesh |
₹3740 to 3755 |
₹3810 to 3825 |
|
Punjab |
₹3710 to 3931 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on August, 22 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3958.50 |
|
Kanpur |
M/30 |
₹3916.50 |
|
Kolhapur |
M/30 |
₹3874.50 |
|
Kolkata |
M/30 |
₹4074.00 |
|
Muzaffarnagar |
M/30 |
₹3927.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $683.00 ton, whereas the New York Sugar #11 front month contract is trading at 23.52 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 82.988 whereas USD was trading with BRL at 4.9805, Crude futures traded at ₹6633, Crude WTI traded at $79.79 barrel. Sensex closed 3.94 points higher at 65220.03 whereas Nifty ended 2.85 points higher at 19396.45
News Round-Up
State-wise additional sugar quota for sale in August 2023
Government releases additional 2 LMT sugar quota for August 2023
Government releases additional 2 LMT sugar quota for August 2023
OMCs may provide additional incentive on ethanol produced from damaged foodgrains and maize: Media Report
OMCs to provide additional incentive on ethanol produced from damaged food grain and maize
Karnataka: Sugarcane farmers threaten to agitate for pending payment
Karnataka: Sugarcane farmers threaten to agitate for pending payment
Sensex ends flat amid volatility, Nifty nears 19,400
