ChiniMandi, Mumbai: 4th December 2023
Domestic Market
Domestic sugar prices reported mixed sentiment
Due to weak demand, sugar prices in the main domestic markets have continued to decline. Reports state that while prices in Kolhapur were stable, they had decreased by an additional Rs. 20 per quintal in Uttar Pradesh, Delhi, and Kolkata. Buyers prefer hand to mouth because the ongoing crushing season is expected to keep prices low.
In Kolhapur, S-grade sugar costs between Rs 3,600 and Rs 3,650 per quintal, while M-grade sugar costs between Rs 3,900 and Rs 3,960. According to Agrimandi, S grade sugar will trade for between Rs 3,600 and Rs 3,720 in Kolhapur markets over the next two weeks.
Ex-mill Sugar Prices as on December, 04 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3620 to 3660 |
₹3720 to 3760 |
|
Karnataka |
₹3690 to 3715 |
₹3765 |
|
Uttar Pradesh |
|
₹3780 to 3885 |
|
Gujarat |
₹3661 to 3701 |
₹3741 to 3781 |
|
Tamil Nadu |
₹3800 to 3875 |
₹3850 to 3900 |
|
Madhya Pradesh |
₹3830 |
₹3900 |
|
Punjab |
₹3900 to 4201 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on December, 04 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,158.00 |
|
Kanpur |
M/30 |
₹4,116.00 |
|
Kolhapur |
M/30 |
₹3,906.00 |
|
Kolkata |
M/30 |
₹4,147.50 |
|
Muzaffarnagar |
M/30 |
₹4,116.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $692.50 ton, whereas the New York Sugar #11 front month contract is trading at 25.01 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.378 whereas USD was trading with BRL at 4.8780, Crude futures traded at ₹6131, Crude WTI traded at $73.23 barrel. Sensex closed 1383.93 points higher at 68865.12 whereas Nifty ended 418.90 points higher at 20686.80
News Round-Up
UP government provides assistance of up to Rs 5 lakh under Farmer Accident Welfare Scheme
UP government provides assistance of up to Rs 5 lakh under Farmer Accident Welfare Scheme
Thailand: Cabinet approves 7.9 billion baht budget for sugarcane farmers to prevent crop burning
Thailand: Cabinet approves 7.9 billion baht budget for sugarcane farmers to prevent crop burning
Former Haryana CM Bhupinder Hooda raises concerns over pending sugarcane payments
Former Haryana CM Bhupinder Hooda raises concerns over pending sugarcane payments
Tripura govt to purchase 40,000 metric tonnes of paddy from farmers at minimum support price during coming kharif season
New highs for market: Sensex ends 1,384 points higher, Nifty nears 20,700
New highs for market: Sensex ends 1,384 points higher, Nifty nears 20,700
