Daily Sugar Market Update By Vizzie – 14/09/2023

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 :

Destination-wise Spot Prices as on September, 14 2023 :

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 ₹7451, 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

Sugarcane farmers in Amroha await pending sugarcane dues

Philippines’ 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

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

Sensex ends marginally higher, Nifty nears 20,100