ChiniMandi, Mumbai: 24th August 2023
Domestic Market
Domestic prices continued to be stable for second session
Domestic sugar prices remained stable for the second session. Demand had been reported to be strong the previous two days, but had slowed since yesterday. 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, 24 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3545 to 3615 |
₹3645 to 3715 |
|
Karnataka |
₹3610 to 3650 |
₹3645 |
|
Uttar Pradesh |
|
₹3720 to 3790 |
|
Gujarat |
₹3581 to 3601 |
₹3661 to 3681 |
|
Tamil Nadu |
₹3650 to 3800 |
₹3760 to 3850 |
|
Madhya Pradesh |
₹3730 to 3750 |
₹3750 to 3830 |
|
Punjab |
₹3800 to 3941 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on August, 24 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 $690.80 ton, whereas the New York Sugar #11 front month contract is trading at 24.04 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 82.563 whereas USD was trading with BRL at 4.8577, Crude futures traded at ₹6531, Crude WTI traded at $79.12 barrel. Sensex closed 180.96 points lower at 65252.34 whereas Nifty ended 57.30 points lower at 19386.70
News Round-Up
ISMA urges government for clear roadmap on ethanol sourcing
Area under cane cultivation in Uttar Pradesh increases
Farmers stage demonstration demanding payment of pending cane dues
Farmers stage demonstration demanding payment of pending cane dues
Kenya govt approves harvesting and milling of mature cane to overcome sugar shortage
Kenya govt approves harvesting and milling of mature cane to overcome sugar shortage
Sensex ends 181 points lower, Nifty below 19,400
