ChiniMandi, Mumbai: 27th October 2023
Domestic Market
Domestic sugar prices continue to trade higher
Sugar prices in the major domestic market are rising due to strong demand ahead of the holiday season. After a rally in Uttar Pradesh yesterday, prices were reported stable today, while prices in other major markets were reported up by Rs 10-20 per quintal. Sugar prices are expected to rise in the short term due to a lack of supply, particularly in Uttar Pradesh.
In Kolhapur, S-grade sugar costs between Rs. 3,680 and 3,740 per quintal, while M-grade sugar costs between Rs. 3,980 and 4,020 per quintal. According to Agrimandi.live, S grade sugar in Kolhapur markets is expected to trade between Rs 3,650 and Rs 3,750 in the next two weeks.
Ex-mill Sugar Prices as on October, 27 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3650 to 3700 |
₹3750 to 3800 |
|
Karnataka |
₹3670 to 3710 |
₹3760 |
|
Uttar Pradesh |
|
₹3950 to 4020 |
|
Gujarat |
₹3700 to 3771 |
₹3780 to 3811 |
|
Tamil Nadu |
₹3720 to 3825 |
₹3830 to 3875 |
|
Madhya Pradesh |
₹3890 to 3905 |
₹3960 to 3975 |
|
Punjab |
₹4040 to 4250 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on October, 27 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,210.50 |
|
Kanpur |
M/30 |
₹4,179.00 |
|
Kolhapur |
M/30 |
₹4,000.50 |
|
Kolkata |
M/30 |
₹4,242.00 |
|
Muzaffarnagar |
M/30 |
₹4,189.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $734.60 ton, whereas the New York Sugar #11 front month contract is trading at 27.18 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.249 whereas USD was trading with BRL at 4.9879, Crude futures traded at ₹7053, Crude WTI traded at $84.67 barrel. Sensex closed 634.65 points higher at 63782.80 whereas Nifty ended 190.00 points higher at 19047.25
News Round-Up
Karnataka to see 20% reduction in sugarcane crop due to less monsoon rains: Vijendra Singh, SISMA (Karnataka) President
Dhampur sugar mill to commence sugarcane crushing on October 30
Dhampur sugar mill to commence sugarcane crushing on October 30
Uttar Pradesh: Akbarpur sugar mill sets target of 114 lakh quintal sugarcane crushing
Uttar Pradesh: Akbarpur sugar mill sets target of 114 lakh quintal sugarcane crushing
Bidders can purchase 200 MT wheat through Open Market Sale Scheme (Domestic) From November 1, 2023
Bidders can purchase 200 MT wheat through Open Market Sale Scheme (Domestic) From November 1, 2023
Sensex ends 635 points higher, Nifty above 19,000
