ChiniMandi, Mumbai: 30th October 2023
Domestic Market
Domestic sugar prices have been reported to be stable to weak
After rising due to strong festive demand, sugar prices in the major domestic market have remained stable to weak. Prices in major markets in Uttar Pradesh remained stable, while prices in Kolhapur fell by Rs 10 per quintal. Due to tighter supply, prices in the major markets are trading at multi-year highs.
In Kolhapur, S-grade sugar costs between Rs. 3,670 and 3,720 per quintal, while M-grade sugar costs between Rs. 3,980 and 4,020 per quintal. According to Agrimandi.live, S grade sugar in Kolhapur markets will trade between Rs 3,650 and Rs 3,750 in the next two weeks.
Ex-mill Sugar Prices as on October, 30 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3650 to 3700 |
₹3750 to 3800 |
|
Karnataka |
₹3650 to 3710 |
₹3760 |
|
Uttar Pradesh |
|
₹3975 to 4035 |
|
Gujarat |
₹3691 to 3721 |
₹3771 to 3801 |
|
Tamil Nadu |
₹3755 to 3850 |
₹3815 to 3900 |
|
Madhya Pradesh |
₹3880 to 3895 |
₹3950 to 3965 |
|
Punjab |
₹4040 to 4251 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on October, 30 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,210.50 |
|
Kanpur |
M/30 |
₹4,179.00 |
|
Kolhapur |
M/30 |
₹3,990.00 |
|
Kolkata |
M/30 |
₹4,242.00 |
|
Muzaffarnagar |
M/30 |
₹4,189.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $730.50 ton, whereas the New York Sugar #11 front month contract is trading at 26.97 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.252 whereas USD was trading with BRL at 5.0158, Crude futures traded at ₹7036, Crude WTI traded at $84.42 barrel. Sensex closed 329.85 points higher at 64112.65 whereas Nifty ended 93.65 points higher at 19140.90
News Round-Up
Nepal police seizes illegally imported sugar
Karnataka: Minister asks sugar mill to reduce harvesting and transportation charges
Karnataka: Minister asks sugar mill to reduce harvesting and transportation charges
Thailand increases sugar prices to benefit farmers and manufacturers
Thailand increases sugar prices to benefit farmers and manufacturers
Commodity prices outlook would darken quickly if conflict in Middle East escalates: World Bank Report
Sensex ends 330 points higher, Nifty nears 19,150
