ChiniMandi, Mumbai: 28th November 2023
Domestic Market
Domestic sugar prices reported to be stable
Sugar prices in the major domestic markets have been reported to be stable after a weak session in North Indian markets in yesterday’s session. Demand is reported to good and buyers are preferring hand to mouth as prices are expected to remain under pressure due to ongoing crushing season.
S-grade sugar in Kolhapur is priced between Rs 3,630 and Rs 3,660 per quintal, while M-grade sugar in Muzaffarnagar is priced between Rs 3,940 and Rs 4,000. S grade sugar, according to Agrimandi.live, will trade in Kolhapur markets for between Rs 3,600 and Rs 3,720 over the next two weeks.
Ex-mill Sugar Prices as on November, 28 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3630 to 3730 |
₹3730 to 3830 |
|
Karnataka |
₹3660 to 3715 |
₹3765 |
|
Uttar Pradesh |
|
₹3830 to 3935 |
|
Gujarat |
₹3671 to 3711 |
₹3751 to 3791 |
|
Tamil Nadu |
₹3780 to 3850 |
₹3850 to 3875 |
|
Madhya Pradesh |
₹3850 |
₹3900 |
|
Punjab |
₹3900 to 4201 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on November, 28 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,210.50 |
|
Kanpur |
M/30 |
₹4,168.50 |
|
Kolhapur |
M/30 |
₹3,927.00 |
|
Kolkata |
M/30 |
₹4,200.00 |
|
Muzaffarnagar |
M/30 |
₹4,168.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $736.70 ton, whereas the New York Sugar #11 front month contract is trading at 26.92 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.333 whereas USD was trading with BRL at 4.8990, Crude futures traded at ₹6321, Crude WTI traded at $75.66 barrel. Sensex closed 204.16 points higher at 66174.20 whereas Nifty ended 95.00 points higher at 19889.70
News Round-Up
National Sugar Institute achieves success in developing technique for production of low GI sugar with one-year shelf life
State-wise monthly sugar quota for sale in December 2023
Maharashtra: Former MP Raju Shetti announces protest outside sugar mill on December 1
Maharashtra: Former MP Raju Shetti announces protest outside sugar mill on December 1
Adani Group launches green hydrogen blending pilot project in Ahmedabad
Adani Group launches green hydrogen blending pilot project in Ahmedabad
Unseasonal rains and hailstorms damage crops in Maharashtra
