ChiniMandi, Mumbai: 24th February 2022
Domestic Market Update
Indian Sugar Production Update by ISMA
According to the Indian Sugar Mills Association (ISMA), as on 15th February 2022, 220.91 lac tons of sugar have been produced by the mills, as compared to 209.11 lac tons produced on the corresponding date of last year. Out of 516 sugar mills which had started crushing in 2021-22 SS, 13 sugar mills have stopped their crushing operations so far. Last year, 496 sugar mills had operated, out of which 32 had stopped crushing on the corresponding date last year.
Domestic Trade Market
According to marketmen the demand has been moderate.
State wise prices today:
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3110 to 3180 |
₹3190 to 3270 |
|
Karnataka |
₹3120 to 3170 |
₹3210 to 3280 |
|
Uttar Pradesh |
|
₹3440 to 3590 |
|
Gujarat |
₹3150 (old) |
₹3271 to 3311 |
|
Tamil Nadu |
₹3320 to 3400 |
₹3375 to 3500 |
|
Madhya Pradesh |
₹3250 to 3280 |
₹3330 to 3360 |
|
Punjab |
|
₹3540 to 3621 |
|
(All the above rates are excluding GST) |
||
International Trade Market
At the time of writing this update, the London White Sugar front month contract is trading at $495.70/ton, whereas the New York Sugar front month contract is whereas US sugar #11 (SBH22)
Is trading at 18.53 c/lb.
Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 75.609, whereas USD was trading with BRL at 5.1393, Crude futures traded at Rs.7500, Crude WTI traded at $98.89 barrel. Sensex closed 2702.15 points lower at 54,429.91 whereas Nifty ended 815.30 points lower at 16,247.95.
