ChiniMandi, Mumbai: 26th May 2023
Domestic Market
Muzaffarnagar and Delhi prices up, steady at Kolhapur, Kolkata
Due to strong demand at current prices, domestic sugar prices in major Indian markets were reported stable to firm. Muzaffarnagar (M grade) sugar prices rose by Rs 10 per quintal to Rs 3,630-3,640 per quintal, while Kolhapur (S grade) sugar prices remained stable at Rs 3,400-3,440 per quintal.
According to Agrimandi.live, prices will continue to rise due to strong demand, with little room for decline. Prices in the Kolhapur markets are expected to trade near Rs 3,480 per quintal in the near future.
IMD has confirmed that the monsoon will be 96% of LPA with a model error of +/-4% from June to September. Monsoon rains are expected to be near normal in Central, South, and North India, while they will be below normal in North West India.
Ex-mill Sugar Prices as on May, 26 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3385 to 3395 |
₹3485 to 3495 |
|
Karnataka |
₹3525 to 3575 |
₹3625 |
|
Uttar Pradesh |
|
₹3595 to 3695 |
|
Gujarat |
₹3521 to 3571 |
₹3601 to 3641 |
|
Tamil Nadu |
₹3535 to 3600 |
₹3700 |
|
Madhya Pradesh |
₹3550 to 3595 |
₹3620 to 3655 |
|
Punjab |
₹3660 to 3701 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on May, 26 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3,885.00 |
|
Kanpur |
M/30 |
₹3,832.50 |
|
Kolhapur |
M/30 |
₹3,701.25 |
|
Kolkata |
M/30 |
₹3,969.00 |
|
Muzaffarnagar |
M/30 |
₹3,816.75 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $696.40/ton, whereas the New York Sugar #11 front month contract is trading at 24.78 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 82.586 whereas USD was trading with BRL at 5.0365, Crude futures traded at ₹6010, Crude WTI traded at $72.48/barrel. Sensex closed 629.07 points higher at 62501.69 whereas Nifty ended 178.20 points higher at 18499.35
News Round-Up
Praj Industries Ltd reports consolidated PAT of Rs 881.151 million in Q4
Praj Industries Ltd reports consolidated PAT of Rs 881.151 million in Q4
Triveni Engineering and Industries Ltd consolidated Q4 PAT rises 74 per cent to Rs 190 crore
Triveni Engineering and Industries Ltd consolidated Q4 PAT rises 74 per cent to Rs 190 crore
Third Advance Estimates of major crops production released
PM Modi to launch special Rs 75 coin to mark inauguration of new Parliament
PM Modi to launch special Rs 75 coin to mark inauguration of new Parliament
Sensex ends 629 points higher, Nifty nears 18,500
