ChiniMandi, Mumbai: 23rd May 2023
Domestic Market
Domestic sugar prices were firm
Domestic sugar prices rose in major markets on good demand. According to the marketman, prices in Kolhapur, Muzaffarnagar, Delhi, and Kolkata increased by Rs 10 per quintal. Sugar prices in Muzaffarnagar (M grade) ranged from Rs 3,610 to Rs 3,630 per quintal, while those in Kolhapur (S grade) ranged from Rs 3,400-3,440.
According to Agrimandi.live, prices will continue to trade higher on good demand, 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, 23 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3390 to 3400 |
₹3490 to 3500 |
|
Karnataka |
₹3525 to 3575 |
₹3600 to 3625 |
|
Uttar Pradesh |
|
₹3575 to 3675 |
|
Gujarat |
₹3521 to 3551 |
₹3601 to 3631 |
|
Tamil Nadu |
₹3500 to 3600 |
₹3610 to 3700 |
|
Madhya Pradesh |
₹3550 to 3580 |
₹3600 to 3650 |
|
Punjab |
₹3660 to 3701 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on May, 23 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3,850.35 |
|
Kanpur |
M/30 |
₹3,795.75 |
|
Kolhapur |
M/30 |
₹3,701.25 |
|
Kolkata |
M/30 |
₹3,969.00 |
|
Muzaffarnagar |
M/30 |
₹3,780.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $717.10/ton, whereas the New York Sugar #11 front month contract is trading at 26.01 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 82.831 whereas USD was trading with BRL at 4.9674, Crude futures traded at ₹6019, Crude WTI traded at $72.53/barrel. Sensex closed 18.11 points higher at 61981.79 whereas Nifty ended 33.60 points higher at 18348.00
News Round-Up
Congress leader Juvvadi Krishna Rao demands to revive Muthyampet sugar mill
Congress leader Juvvadi Krishna Rao demands to revive Muthyampet sugar mill
Mill’s sugar recovery rate crosses 10 per cent after 20 years
Mill’s sugar recovery rate crosses 10 per cent after 20 years
Pakistan: ACE seizes sugar stocks worth Rs 100 million
NSI assists to achieve ethanol blending target
Punjab records higher wheat production
