Daily Sugar Market Update By Vizzie – 24/06/2023

ChiniMandi, Mumbai: 24th June 2023

Domestic Market

Sugar prices mixed in major centers

Sugar prices were reported to be mixed due to weak demand amid thin trading activity. Prices dropped by Rs 10 per quintal in the major markets of Uttar Pradesh, but quotes in Kolhapur remained steady. In Kolhapur (S grade), prices ranged from Rs 3,450 to Rs 3,480, and in Muzaffarnagar (M grade), prices ranged from Rs 3,640 to Rs 3,670.

The major cane growing regions are expected to experience moderate to heavy rainfall activity over the next two weeks, which is likely to keep prices under pressure going forward. These rains will help crops grow and replenish reservoirs that have been depleted due to the lack of precipitation over the previous five to six months.

Agrimandi.live anticipates that prices to trade weaker on improving weather conditions amid lesser demand. Prices in the Kolhapur markets are anticipated to move in the direction of Rs 3,380-3,400 per quintal in the near future, with Rs 3,500-3,520 per quintal acting as a resistance.

Ex-mill Sugar Prices as on June, 24 2023 :

Destination-wise Spot Prices as on June, 24 2023 :

News Round-Up

Sugar prices soar in domestic market

Sugar prices soar in domestic market

Sugar mill’s administration agrees to pay pending cane dues

Sugar mill’s administration agrees to pay pending cane dues

Sanjivani sugar mill’s land utilizes for fruits and vegetables cultivation

Sanjivani sugar mill’s land utilizes for fruits and vegetables cultivation

Sugar production in Mexico falls by 15 percent due to drought

Sugar production in Mexico falls by 15 per cent due to drought

Government directs FCI to conduct e-auctions of wheat and rice to check inflationary trends in retail prices

Government directs FCI to conduct e-auctions of wheat and rice to check inflationary trends in retail prices