Daily Sugar Market Update By Vizzie – 09/08/2022

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ChiniMandi, Mumbai: 9th August 2022

Domestic Trade Market
Last week after the announcement of the domestic sale quota for the month of August 2022, sugar prices shot up by ₹80 to 100/ quintal. A correction in prices was anticipated after the Government announced an extension of 30 days for the month of July 2022. The demand was subdued, prices were range bound, not much movement was witnessed due to a bank holiday on occasion of Muharram.

Ex-mill sugar prices as on August, 09 2022 :

State

S/30

[Rates per Quintal]

M/30

[Rates per Quintal]

Maharashtra

₹3340 to 3400

₹3410 to 3470

Karnataka

₹3350 to 3430

₹3550 to 3640

Uttar Pradesh

₹3535 to 3620

Gujarat

₹3331 to 3391

₹3381 to 3441

Tamil Nadu

₹3475 to 3550

₹3525 to 3600

Madhya Pradesh

₹3460 to 3480

₹3520 to 3540

Punjab

₹3600 to 3681

(All the above rates are excluding GST)


International Trade Market
At the time of writing this update, the London White Sugar #5 front month contract (SWV22) is trading at $546.40/ton, whereas the New York Sugar #11 front month contract (SBV22) is trading at 18.03 c/lb.

Currency, Commodity & Indian Indices:
The Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) remained closed today on the account of Muharram.

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