ChiniMandi, Mumbai: 28th August 2023
Domestic Market
Domestic prices reported stable, and demand reported good
Domestic sugar prices are said to be stable in major markets, but demand is said to be high today. Furthermore, because of the current crop situation and drought, prices are expected to trade higher. Lower rainfall activity over major cane growing regions, combined with lower supply, are likely to support spot market prices.
According to reports, quintal prices in Muzaffarnagar were between Rs. 3,700 and 3,740, and between Rs. 3,520 and 3,540 in Kolhapur. AgriMandi.live predicts that S grade will soon trade in the Kolhapur markets for between Rs 3,500 and Rs 3,580 per quintal.
Ex-mill Sugar Prices as on August, 28 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3550 to 3600 |
₹3650 to 3700 |
|
Karnataka |
₹3610 to 3650 |
₹3640 to 3700 |
|
Uttar Pradesh |
|
₹3710 to 3790 |
|
Gujarat |
₹3565 to 3581 |
₹3641 to 3671 |
|
Tamil Nadu |
₹3650 to 3800 |
₹3760 to 3850 |
|
Madhya Pradesh |
₹3720 to 3725 |
₹3790 to 3795 |
|
Punjab |
₹3800 to 3931 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on August, 28 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3948.00 |
|
Kanpur |
M/30 |
₹3906.00 |
|
Kolhapur |
M/30 |
₹3843.00 |
|
Kolkata |
M/30 |
₹4063.50 |
|
Muzaffarnagar |
M/30 |
₹3916.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is not trading today due to Summer bank holiday, whereas the New York Sugar #11 front month contract is trading at 24.83 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 82.632 whereas USD was trading with BRL at 4.8730, Crude futures traded at ₹6602, Crude WTI traded at $79.72 barrel. Sensex closed 110.09 points higher at 64996.60 whereas Nifty ended 40.25 points higher at 19306.05
News Round-Up
Nitin Gadkari to launch 100 per cent ethanol-fueled Toyota Innova car tomorrow
Nitin Gadkari to launch 100 per cent ethanol-fueled Toyota Innova car tomorrow
NSI Director to deliver talk on “Sugar Industry- The Growth Engine of India” at upcoming Annual Convention of STAI
Uttar Pradesh: Two sugar mills get Rs 35 crore for renovation
Uttar Pradesh: Two sugar mills get Rs 35 crore for renovation
Uttar Pradesh: Alcobulls plans to set up grain-based ethanol plant
Uttar Pradesh: Alcobulls plans to set up grain-based ethanol plant
Sensex ends 110 points higher, Nifty above 19,300
