ChiniMandi, Mumbai: 2nd February 2022
Domestic Market Update
Announcement of Quota for the month January 2002
The Department of Food & Public Distribution announced a 20 LMT monthly sugar quota for domestic sale in February 2022.
Unblended fuel to attract โน2 per litre excise duty
In the Union Budget 2022, Finance Minister Nirmala Sitharaman announced that unblended fuel will attract โน2 per litre excise duty from October 2022. Blended fuel has the potential of reducing India’s oil import bill while also potentially increasing farmer income.
Domestic Trade Market
Today, the market witnessed moderate demand.
State wise prices today:
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
โน3120 to 3200 |
โน3200 to 3290 |
|
Karnataka |
โน3140 to 3160 |
โน3230 to 3300 |
|
Uttar Pradesh |
|
โน3410 to 3560 |
|
Gujarat |
โน3200 to 3341 |
โน3321 to 3411 |
|
Tamil Nadu |
โน3340 to 3450 |
โน3400 to 3500 |
|
Madhya Pradesh |
โน3315 to 3350 |
โน3355 to 3400 |
|
Punjab |
|
โน3440 to 3521 |
|
(All the above rates are excluding GST) |
||
International Trade Market
Yesterday, the market closed lower on strength in crude prices and Brazilian Real.
London white sugar #5 (SWH22) closed up $7 at $499.50/ton whereas US sugar #11 (SBH22) closed up 0.26 points at 18.48 c/lb
At the time of writing this update, the London White Sugar front month contract is trading at $497.20/ton, whereas the New York Sugar front month contract is trading at 18.39/lb.
Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 74.775 whereas USD was trading with BRL at 5.2660, Crude futures traded at Rs.6595, Crude WTI traded at $88.09 barrel. Sensex closed 695.76 points higher at 59,558.33 whereas Nifty ended 203.15 points higher at 17,780.
