ChiniMandi, Mumbai: 31st October 2023
Domestic Market
Domestic sugar prices reported to be stable
Sugar prices in the major domestic market have remained stable for the second session after rising due to high holiday demand and limited supply. Due to tighter supply, prices in the major markets are trading at multi-year highs. Crushing activity has begun in Karnataka this week, which is expected to keep check on price rise from mid-November.
S-grade sugar costs between Rs. 3,680 and Rs. 3,740 per quintal in Kolhapur, while M-grade sugar costs between Rs. 3,980 and Rs. 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, 31 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3640 to 3700 |
₹3740 to 3800 |
|
Karnataka |
₹3650 to 3710 |
₹3760 |
|
Uttar Pradesh |
|
₹3950 to 4015 |
|
Gujarat |
₹3691 to 3721 |
₹3771 to 3801 |
|
Tamil Nadu |
₹3755 to 3850 |
₹3815 to 3900 |
|
Madhya Pradesh |
₹3875 to 3900 |
₹3940 to 3960 |
|
Punjab |
₹4020 to 4251 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on October, 31 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 $735.60 ton, whereas the New York Sugar #11 front month contract is trading at 27.07 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.260 whereas USD was trading with BRL at 5.0448, Crude futures traded at ₹6912, Crude WTI traded at $82.92 barrel. Sensex closed 237.72 points lower at 63874.93 whereas Nifty ended 61.30 points lower at 19079.60
News Round-Up
Thailand adds sugar to list of controlled goods
Haryana: Saraswati Sugar Mills to start sugarcane crushing operations today
Haryana: Saraswati Sugar Mills to start sugarcane crushing operations today
Haryana to increase sugarcane prices soon, says minister
Hardeep Singh Puri invites Mozambique to become member of Global Biofuels Alliance
Hardeep Singh Puri invites Mozambique to become member of Global Biofuels Alliance
Sensex ends 238 points lower, Nifty below 19,100
