ChiniMandi, Mumbai: 1st June 2023
Domestic Market
Mixed cues in sugar prices, UP up again, Kolhapur fell
Sugar prices were mixed, with prices rising in Muzaffarnagar but falling in Kolhapur. Higher monthly quotas are weighing on Kolhapur market prices, while strong demand in North India is supporting prices. Prices for Muzaffarnagar (M grade) were trading at Rs 3,660-3,670 per quintal, while prices for Kolhapur (S grade) fell by Rs 10 to Rs 3,410 per quintal.
Prices are expected to trade steady to firm due to strong demand, with little room for decline, according to Agrimandi.live. In the near future, prices in the Kolhapur markets are expected to trade towards Rs 3,480 per quintal, with a support level of Rs 3,360 per quintal.
Ex-mill Sugar Prices as on June, 1 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
โน3385 to 3395 |
โน3485 to 3495 |
|
Karnataka |
โน3525 to 3625 |
โน3650 |
|
Uttar Pradesh |
|
โน3605 to 3715 |
|
Gujarat |
โน3461 to 3501 |
โน3551 to 3571 |
|
Tamil Nadu |
โน3565 to 3650 |
– |
|
Madhya Pradesh |
โน3520 to 3565 |
โน3580 to 3635 |
|
Punjab |
โน3710 to 3771 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on June, 1 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
โน3916.50 |
|
Kanpur |
M/30 |
โน3864.00 |
|
Kolhapur |
M/30 |
โน3685.50 |
|
Kolkata |
M/30 |
โน3958.50 |
|
Muzaffarnagar |
M/30 |
โน3848.25 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $702.20/ton, whereas the New York Sugar #11 front month contract is trading at 25.34 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 82.431 whereas USD was trading with BRL at 5.0558, Crude futures traded at โน5598, Crude WTI traded at $67.70/barrel. Sensex closed 193.70 points lower at 62428.54 whereas Nifty ended 46.65 points lower at 18487.75
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