ChiniMandi, Mumbai: 14th December 2023
Domestic Market
Domestic sugar prices reported to be stable after a weak long fall
Sugar prices are said to be stable in the major domestic markets. Because prices are expected to remain low during the current crushing season, buyers prefer hand-to-mouth. Furthermore, increased sugar production as a result of the ban on ethanol production from direct cane juice is weighing on prices.
In Kolhapur, S-grade sugar costs between Rs 3,540 and Rs 3,620 per quintal, while M-grade sugar costs between Rs 3,820 and Rs 3,880 per quintal in Muzaffarnagar. According to Agrimandi, S grade sugar will trade in Kolhapur markets in the next two weeks for between Rs 3,450 and Rs 3,650.
Ex-mill Sugar Prices as on December, 14 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3620 to 3630 |
₹3720 to 3730 |
|
Karnataka |
₹3690 to 3700 |
₹3750 |
|
Uttar Pradesh |
|
₹3720 to 3825 |
|
Gujarat |
₹3601 to 3641 |
₹3681 to 3721 |
|
Tamil Nadu |
₹3775 to 3875 |
₹3850 to 3900 |
|
Madhya Pradesh |
₹3730 to 3820 |
₹3790 to 3870 |
|
Punjab |
₹3930 to 4001 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on December, 14 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,074.00 |
|
Kanpur |
M/30 |
₹4,026.75 |
|
Kolhapur |
M/30 |
₹3,874.50 |
|
Kolkata |
M/30 |
₹4,063.50 |
|
Muzaffarnagar |
M/30 |
₹4,026.75 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $620.60 ton, whereas the New York Sugar #11 front month contract is trading at 21.64 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.329 whereas USD was trading with BRL at 4.8925, Crude futures traded at ₹5885, Crude WTI traded at $70.58 barrel. Sensex closed 929.60 points higher at 70514.20 whereas Nifty ended 256.35 points higher at 21182.70
News Round-Up
2023-24 season: Sugar production in Maharashtra reaches 230 lakh quintals
2023-24 season: Sugar production in Maharashtra reaches 230 lakh quintals
Uttar Pradesh: Contractual labourer dies in conveyor belt accident at sugar mill
Uttar Pradesh: Contractual labourer dies in conveyor belt accident at sugar mill
LanzaTech, Tadweer initiate waste-to-sustainable aviation fuel feasibility study
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India’s logistics cost to GDP is 8-9%: Report
Sensex ends 930 points higher, Nifty above 21,150
