ChiniMandi, Mumbai: 29th September 2023
Domestic Market
Domestic prices traded lower on rainfall activity
Domestic sugar prices have been reported to be lower due to weak demand. Furthermore, good rainfall activity in Maharashtra’s major growing regions is weighing on prices. In addition, the government’s stock release and the absence of a festive season are weighing on prices. In major cities, prices fell by Rs 10-20 per quintal.
S-grade sugar quintals cost between Rs. 3,630 and 3,660 in Kolhapur, while M-grade sugar costs between Rs. 3,820 and 3,850 in Muzaffarnagar. AgriMandi estimates that S grade sugar will cost between Rs 3,620 and Rs 3,700 in Kolhapur markets.
Ex-mill Sugar Prices as on September, 29 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3610 to 3650 |
₹3710 to 3750 |
|
Karnataka |
₹3640 to 3700 |
₹3750 |
|
Uttar Pradesh |
|
₹3815 to 3920 |
|
Gujarat |
₹3641 |
₹3701 to 3761 |
|
Tamil Nadu |
₹3690 to 3825 |
₹3800 to 3850 |
|
Madhya Pradesh |
₹3775 to 3790 |
₹3845 to 3860 |
|
Punjab |
₹3915 to 4041 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on September, 29 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,053.00 |
|
Kanpur |
M/30 |
₹4,011.00 |
|
Kolhapur |
M/30 |
₹3,927.00 |
|
Kolkata |
M/30 |
₹4,116.00 |
|
Muzaffarnagar |
M/30 |
₹4,021.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $710.11 ton, whereas the New York Sugar #11 front month contract is trading at 26.62 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.042 whereas USD was trading with BRL at 5.0335, Crude futures traded at ₹7698, Crude WTI traded at $92.66 barrel. Sensex closed 320.09 points higher at 65828.41 whereas Nifty ended 114.75 points higher at 19638.30
News Round-Up
District administration strict over pending cane dues
Balrampur: District administration strict over pending cane dues
Uttar Pradesh: Farmers demand increase in sugarcane price to Rs 500 per quintal
Uttar Pradesh: Farmers demand increase in sugarcane price to Rs 500 per quintal
Punjab: Sugarcane farmers continue to protest in Phagwara, demand payment of arrears
Punjab: Sugarcane farmers continue to protest in Phagwara, demand payment of arrears
India to be world’s third-largest economy by 2027: Amit Shah
India to be world’s third-largest economy by 2027: Amit Shah
Sensex ends 320 points higher, Nifty above 19,600
