ChiniMandi, Mumbai: 29th June 2023
Domestic Market
Domestic sugar prices fell on higher monthly sales quota
On the back of a higher monthly sale quota, sugar prices in major markets declined by Rs 10–20 per quintal. The sale quota for July was reported at 24.0 lakh tons, an increase of 0.5 lakh tons from the previous month and 2.56 lakh tons from the same month last season.
In order to keep prices in check, the Food Ministry has allocated more sugar despite a muted demand on the back of good rainfall activity across the nation. In Kolhapur, prices for S grades ranged from Rs 3,410 to Rs 3,440, while in Muzaffarnagar, prices for M grades ranged from Rs 3,630 to Rs 3,660.
Agrimandi.live predicts that prices will likely trade lower due to a higher quota and weaker demand due to better weather. Prices in the Kolhapur market are anticipated to move in the vicinity of Rs 3,380-3,400 per quintal in the near future, with Rs 3,480-3,500 per quintal serving as resistance.
Ex-mill Sugar Prices as on June, 29 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3400 to 3430 |
₹3500 to 3530 |
|
Karnataka |
Holiday |
Holiday |
|
Uttar Pradesh |
|
₹3625 to 3735 |
|
Gujarat |
₹3451 to 3481 |
₹3551 to 3561 |
|
Tamil Nadu |
Holiday |
Holiday |
|
Madhya Pradesh |
₹3620 to 3635 |
₹3690 to 3700 |
|
Punjab |
₹3710 to 3781 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on June, 29 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3900.75 |
|
Kanpur |
M/30 |
₹3843.00 |
|
Kolhapur |
M/30 |
₹3748.50 |
|
Kolkata |
M/30 |
₹3979.50 |
|
Muzaffarnagar |
M/30 |
₹3837.75 |
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