ChiniMandi, Mumbai: 27th February 2023
Government Notification / Industry Update :
On Friday, the International Sugar Organisation (ISO) revised the global sugar surplus to 4.151 million tonnes in 2022/23 down from 6.185 mln tonnes in our November report. To know more read
ISO revises global sugar surplus to 4.151 million tonnes in 2022/23
Domestic Market
The market witnessed moderate demand.
Ex-mill Sugar Prices as on February, 27 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3200 to 3240 |
₹3300 to 3340 |
|
Karnataka |
₹3300 to 3350 |
₹3425 to 3400 |
|
Uttar Pradesh |
|
₹3400 to 3450 |
|
Gujarat |
₹3321 to 3351 |
₹3371 to 3401 |
|
Tamil Nadu |
₹3330 to 3450 |
₹3400 to 3445 |
|
Madhya Pradesh |
₹3355 to 3395 |
₹3425 to 3465 |
|
Punjab |
₹3460 to 3551 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on February, 27 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3605 |
|
Kanpur |
M/30 |
₹3710 |
|
Kolhapur |
M/30 |
₹3490 |
|
Kolkata |
M/30 |
₹3810 |
|
Muzaffarnagar |
M/30 |
₹3610 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $563.70/ton, whereas the New York Sugar #11 front month contract is trading at 21.48 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 82.762, whereas USD was trading with BRL at 5.1773, Crude futures traded at ₹6325, Crude WTI traded at $76.16/barrel. Sensex closed 175.58 points lower at 59,288.35 whereas Nifty ended 73.10 points lower at 17,392.70
News Round-Up
PM Modi to release 13th installment to beneficiaries under the PM-KISAN at Belagavi, Karnataka today
Bangladesh withdraws import duty on refined and raw sugar
Weekly Sugar Comment
Why China is a Crucial Link in The Food Supply Chain
