ChiniMandi, Mumbai: 16th August 2023
Domestic Market
Domestic prices continue to be stable
Sugar prices are said to be stable in Maharashtra and Uttar Pradesh’s major markets. Demand is reported to be very good at lower price levels, viz., Rs 3,520-3,530 per quintal, but there are no takers for sugar priced between Rs 3,580 and Rs 3,600 per quintal. Most of the buyers are remaining hand to mouth which is keeping prices under control.
In Kolhapur, S-grade sugar was priced between Rs 3,510 and Rs 3,530, while M-grade sugar in Uttar Pradesh was priced between Rs 3,670 and Rs 3,710. AgriMandi.live predicts that in the near future, S grade is expected to trade between Rs 3,500 and Rs 3,580 per quintal in the Kolhapur markets.
Ex-mill Sugar Prices as on August, 16 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
โน3510 to 3560 |
โน3610 to 3660 |
|
Karnataka |
โน3570 to 3600 |
– |
|
Uttar Pradesh |
|
โน3650 to 3730 |
|
Gujarat |
โน3561 to 3581 |
โน3641 to 3661 |
|
Tamil Nadu |
โน3625 to 3725 |
โน3710 to 3775 |
|
Madhya Pradesh |
โน3720 to 3730 |
โน3790 to 3800 |
|
Punjab |
โน3660 to 3831 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on August, 16 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
โน3,916.50 |
|
Kanpur |
M/30 |
โน3,864.00 |
|
Kolhapur |
M/30 |
โน3,832.50 |
|
Kolkata |
M/30 |
โน4,021.50 |
|
Muzaffarnagar |
M/30 |
โน3,874.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $695.10 ton, whereas the New York Sugar #11 front month contract is trading at 23.85 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.187 whereas USD was trading with BRL at 4.9859, Crude futures traded at โน6734, Crude WTI traded at $80.78 barrel. Sensex closed 137.50 points higher at 65539.42 whereas Nifty ended 30.45 points higher at 19465.00
News Round-Up
Sugar smuggling affecting domestic sugar industry: Bangladesh Sugar Refiners Association
Sugar smuggling affecting domestic sugar industry: Bangladesh Sugar Refiners Association
Moradabad: Sugarcane farmer increases income by using cane to produce new products
Moradabad: Sugarcane farmer increases income by using cane to produce new products
Uganda: Cane poachers causing loss of Shs22 billion to Kinyara Sugar factory annually
Uganda: Cane poachers causing loss of Shs22 billion to Kinyara Sugar factory annually
Brazil: Sรฃo Paulo government focuses on producing green hydrogen from ethanol
Brazil: Sรฃo Paulo government focuses on producing green hydrogen from ethanol
Sensex ends 138 points higher, Nifty above 19,450
