ChiniMandi, Mumbai: 23rd September 2023
Domestic Market
Domestic prices continue to trade steady for the third session
Domestic sugar prices were quoted as stable for the third session after a sharp increase the previous week. Trade activity is reported to be dull due to the festive season. To keep prices from rising further, the Food Ministry has already set aside 13 lakh tons of quota for the month of October. However, given the current weather conditions and the stocks associated with the mills, prices are likely to rise further in the near future.
Furthermore, rain is expected in the first two weeks of October, which could delay the start of crushing operations. Given that crushing activity is likely to be delayed, prices may benefit in the short term because stocks are at multi-year lows.
In Kolhapur, quintals of S grade sugar cost between Rs. 3,650 and 3,680, while M grade prices in Muzaffarnagar range from Rs. 3,850 to 3,880. AgriMandi forecasts the S grade sugar in the markets of Kolhapur between Rs 3,620 and Rs 3,700.
Ex-mill Sugar Prices as on September, 23 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3655 to 3680 |
₹3755 to 3780 |
|
Karnataka |
₹3725 |
– |
|
Uttar Pradesh |
|
₹3815 to 3920 |
|
Gujarat |
₹3651 to 3701 |
₹3751 to 3791 |
|
Tamil Nadu |
₹3750 to 3825 |
₹3825 to 3875 |
|
Madhya Pradesh |
₹3790 to 3805 |
₹3860 to 3875 |
|
Punjab |
₹3950 to 4071 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on September, 23 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4105.50 |
|
Kanpur |
M/30 |
₹4063.50 |
|
Kolhapur |
M/30 |
₹3958.50 |
|
Kolkata |
M/30 |
₹4168.50 |
|
Muzaffarnagar |
M/30 |
₹4074.00 |
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