ChiniMandi, Mumbai: 9th May 2023
Domestic Market
Domestic sugar prices continues to trade stable
Domestic sugar prices continued to trade steady on good demand in major markets. Good rake demand for Kolkata supporting the prices in spot markets.
Sugar prices at Kolhapur (S grade) continued to trade in the range of Rs 3,400-3,440 per Qtl while in Muzaffarnagar (M Grade), prices were in the range of Rs 3,610-3,640 per Qtl.
According to Agrimandi.live, prices are expected to trade steady with a positive bias in the coming days. Lower supply is likely to keep prices supported in the coming months.
Ex-mill Sugar Prices as on May, 9 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3395 to 3415 |
₹3495 to 3525 |
|
Karnataka |
₹3520 to 3575 |
₹3600 to 3625 |
|
Uttar Pradesh |
|
₹3600 to 3675 |
|
Gujarat |
₹3425 to 3461 |
₹3505 to 3531 |
|
Tamil Nadu |
₹3550 to 3620 |
₹3620 to 3650 |
|
Madhya Pradesh |
₹3590 to 3630 |
₹3660 to 3700 |
|
Punjab |
₹3690 to 3721 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on May, 9 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3,879.75 |
|
Kanpur |
M/30 |
₹3,827.25 |
|
Kolhapur |
M/30 |
₹3,690.75 |
|
Kolkata |
M/30 |
₹4,000.50 |
|
Muzaffarnagar |
M/30 |
₹3,806.25 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $712.80/ton, whereas the New York Sugar #11 front month contract is trading at 26.29 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 82.075 whereas USD was trading with BRL at 5.0061, Crude futures traded at ₹5950, Crude WTI traded at $72.36/barrel. Sensex closed 2.92 points lower at 61761.33 whereas Nifty ended 1.55 points higher at 18265.95
News Round-Up
NSI director moots for judicious use of instrumentation and adoption of various automatic process control system for higher productivity in sugar units
Indian stocks extend gains; inflation data eyed for fresh cues
Indian stocks extend gains; inflation data eyed for fresh cues
Petroleum Ministry committee recommends solutions for clean energy transition; Read here
Petroleum Ministry committee recommends solutions for clean energy transition; Read here
India reports 1,331 new Covid cases in last 24 hours
Mocha may intensify into cyclonic storm by May 10: IMD
