ChiniMandi, Mumbai: 30th August 2023
Domestic Market
Domestic prices continued to be stable
Domestic sugar prices have been reported to be stable due to low demand. Furthermore, a higher monthly quota for September is weighing on domestic prices. The Food Ministry has allocated 25 lakh tons, which will most likely weigh on spot markets.
According to reports, quintal prices in Muzaffarnagar ranged between Rs. 3,700 and 3,740, while in Kolhapur they ranged between Rs. 3,520 and 3,540. According to AgriMandi.live, 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, 30 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3560 to 3600 |
₹3660 to 3700 |
|
Karnataka |
₹3610 to 3650 |
₹3640 to 3700 |
|
Uttar Pradesh |
|
₹3710 to 3790 |
|
Gujarat |
– |
– |
|
Tamil Nadu |
₹3650 to 3800 |
₹3760 to 3850 |
|
Madhya Pradesh |
₹3730 to 3735 |
₹3800 to 3805 |
|
Punjab |
₹3800 to 3921 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on August, 30 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 trading at $729.90 ton, whereas the New York Sugar #11 front month contract is trading at 25.61 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 82.706 whereas USD was trading with BRL at 4.8526, Crude futures traded at ₹6760, Crude WTI traded at $81.75 barrel. Sensex closed 11.43 points higher at 65087.25 whereas Nifty ended 4.80 points higher at 19347.45
News Round-Up
DFPD releases sugarcane payment data till August 27, 2023
Farmers demand hike in sugarcane price to Rs 600 per quintal
Farmers demand hike in sugarcane price to Rs 600 per quintal
Sugar prices likely to remain high: Citi
Farmers receiving timely cane dues due to ethanol production boost: Nitin Gadkari
Farmers receiving timely cane dues due to ethanol production boost: Nitin Gadkari
Sri Lanka, Bangladesh keen to import ethanol from India
