ChiniMandi, Mumbai: 8th November 2023
Domestic Market
Domestic sugar prices continue to trade weak
Sugar prices in the major domestic market remain low due to weak demand. Prices fell by Rs 10 per quintal today in the major markets of Uttar Pradesh, Maharashtra, and Karnataka. The start of the crushing campaign is expected to keep prices stable in the short to medium term.
In Kolhapur, S-grade sugar was priced between Rs. 3,620 and Rs. 3,660 per quintal, while M-grade sugar was priced between Rs. 3,920 and Rs. 3,950. According to Agrimandi.live, S grade sugar will trade in Kolhapur markets for between Rs 3,600 and Rs 3,720 over the next two weeks.
Ex-mill Sugar Prices as on November, 08 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3600 to 3650 |
₹3700 to 3750 |
|
Karnataka |
₹3640 to 3665 |
₹3735 |
|
Uttar Pradesh |
|
₹3875 to 3960 |
|
Gujarat |
₹3681 to 3721 |
₹3761 to 3801 |
|
Tamil Nadu |
₹3740 to 3850 |
₹3800 to 3900 |
|
Madhya Pradesh |
₹3850 to 3870 |
₹3920 to 3935 |
|
Punjab |
₹3980 to 4180 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on November, 08 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,137.00 |
|
Kanpur |
M/30 |
₹4,105.50 |
|
Kolhapur |
M/30 |
₹3,927.00 |
|
Kolkata |
M/30 |
₹4,158.00 |
|
Muzaffarnagar |
M/30 |
₹4,105.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $749.20 ton, whereas the New York Sugar #11 front month contract is trading at 27.49 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.277 whereas USD was trading with BRL at 4.8729, Crude futures traded at ₹6421, Crude WTI traded at $76.77 barrel. Sensex closed 33.21 points higher at 64975.61 whereas Nifty ended 36.80 points higher at 19443.50
News Round-Up
Egypt: GASC to receive 100,000 tonnes of imported sugar after mid-November, says Minister
Egypt: GASC to receive 100,000 tonnes of imported sugar after mid-November, says Minister
Hardeep Singh Puri meets CEO of German Biogas Association; discusses issue of stubble burning
Hardeep Singh Puri meets CEO of German Biogas Association; discusses issue of stubble burning
Sensex, Nifty end marginally higher
India’s October oil demand rises 1.6% MoM; 2023 annual growth revised: S&P Global
India’s October oil demand rises 1.6% MoM; 2023 annual growth revised: S&P Global
Ethanol tender for ESY 2023-24: Offers for 560 crore litres received
Ethanol tender for ESY 2023-24: Offers for 560 crore litres received
