ChiniMandi, Mumbai: 13th November 2023
Domestic Market
Domestic sugar prices continued to be stable
Sugar prices in the major domestic market were reported to be stable during a thin trading session. Prices remained at lower levels as trading activity remained subdued. The crushing campaign began in Uttar Pradesh, where 58 mills began operations; 52 mills are operational in Karnataka, and 60 in Maharashtra. As the crushing campaign begins, prices are expected to remain stable in the short to medium term.
In Kolhapur, S-grade sugar was priced between Rs 3,610 and Rs 3,640 per quintal, while M-grade sugar was priced between Rs 3,900 and Rs 3,940. 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, 13 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3600 to 3650 |
₹3700 to 3750 |
|
Karnataka |
Holiday |
Holiday |
|
Uttar Pradesh |
|
Holiday |
|
Gujarat |
₹3681 to 3721 |
₹3761 to 3801 |
|
Tamil Nadu |
Holiday |
Holiday |
|
Madhya Pradesh |
Holiday |
Holiday |
|
Punjab |
Holiday |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on November, 13 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,126.50 |
|
Kanpur |
M/30 |
₹4,095.00 |
|
Kolhapur |
M/30 |
₹3,906.00 |
|
Kolkata |
M/30 |
₹4,147.50 |
|
Muzaffarnagar |
M/30 |
₹4,095.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $746.50 ton, whereas the New York Sugar #11 front month contract is trading at 27.25 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.316 whereas USD was trading with BRL at 4.9138, Crude futures traded at ₹6455, Crude WTI traded at $77.20 barrel. Sensex closed 325.58 points lower at 64933.87 whereas Nifty ended 82.00 points lower at 19443.55
News Round-Up
Kolhapur: Sugarcane crushing impacted due to protests
Belagavi: Farmers may experience fodder shortage in coming months
Belagavi: Farmers may experience fodder shortage in coming months
Vocal for Local triumphs: Diwali trade hits Rs 3.75 lakh crore
Vocal for Local triumphs: Diwali trade hits Rs 3.75 lakh crore
Punjab Govt sets up plant to make ethanol from stubble
Sensex ends 326 points lower, Nifty below 19,450
