ChiniMandi, Mumbai: 14th September 2023
Domestic Market
For third session, domestic sugar prices traded stable
For the third session in a row, domestic sugar prices remained unchanged. The major cane-growing regions of Maharashtra and Karnataka are reportedly experiencing dry weather, which could further reduce the cane yields in turn sugar production. As traders and stockists await notification of the stock limit, demand is reportedly muted.
In Muzaffarnagar, a quintal is reported to cost between Rs. 3,750 and 3,780, while in Kolhapur, it costs between Rs. 3,600 and 3,630. A quintal of S grade sugar will cost between Rs 3,580 and Rs 3,700 in Kolhapur markets.
Ex-mill Sugar Prices as on September, 14 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
โน3620 to 3650 |
โน3720 to 3750 |
|
Karnataka |
โน3635ย to 3700 |
โน3690 to 3750 |
|
Uttar Pradesh |
|
โน3750 to 3830 |
|
Gujarat |
โน3601 to 3651 |
โน3701 to 3741 |
|
Tamil Nadu |
โน3700 to 3825 |
โน3825 to 3875 |
|
Madhya Pradesh |
โน3740 to 3755 |
โน3805 to 3825 |
|
Punjab |
โน3870 to 4001 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on September, 14 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
โน4,000.50 |
|
Kanpur |
M/30 |
โน3,958.50 |
|
Kolhapur |
M/30 |
โน3,906.00 |
|
Kolkata |
M/30 |
โน4,116.00 |
|
Muzaffarnagar |
M/30 |
โน3,979.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $760.90 ton, whereas the New York Sugar #11 front month contract is trading at 26.84 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 82.975 whereas USD was trading with BRL at 4.9163, Crude futures traded at โน7451, Crude WTI traded at $89.81 barrel. Sensex closed 52.01 points higher at 67519.00 whereas Nifty ended 33.10 points higher at 20103.10
News Round-Up
Sugarcane farmers in Amroha await pending sugarcane dues
Philippinesโ sugar industry gets P314-million grant from Japan
Philippines’ sugar industry gets P314-million grant from Japan
Kisan Union to launch protest over unpaid sugarcane dues
70 per cent of jet fuels at EU airports will have to be green by 2050
70 per cent of jet fuels at EU airports will have to be green by 2050
Sensex ends marginally higher, Nifty nears 20,100
