ChiniMandi, Mumbai: 15th December 2023
Domestic Market
Domestic sugar prices reported to be weak
Sugar prices have continued to fall in the major domestic markets due to weak demand. Prices are expected to remain low on the back of ongoing crushing season; buyers prefer hand-to-mouth. Furthermore, higher sugar production as a result of the ban on ethanol production from direct cane juice is putting pressure on prices.
In Kolhapur, S-grade sugar costs between Rs 3,520 and Rs 3,600 per quintal, while M-grade sugar costs between Rs 3,800 and Rs 3,850 per quintal in Muzaffarnagar. According to Agrimandi, S grade sugar will trade in Kolhapur markets for between Rs 3,450 and Rs 3,650 in the next two weeks.
Ex-mill Sugar Prices as on December, 15 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
โน3640 to 3680 |
โน3720 to 3760 |
|
Karnataka |
โน3650 to 3700 |
โน3750 |
|
Uttar Pradesh |
|
โน3690 to 3800 |
|
Gujarat |
โน3591 to 3621 |
โน3671 to 3701 |
|
Tamil Nadu |
โน3775 to 3875 |
โน3835 to 3900 |
|
Madhya Pradesh |
โน3791 to 3810 |
โน3860 to 3861 |
|
Punjab |
โน3930 to 4001 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on December, 15 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
โน4,053.00 |
|
Kanpur |
M/30 |
โน4,011.00 |
|
Kolhapur |
M/30 |
โน3,864.00 |
|
Kolkata |
M/30 |
โน4,053.00 |
|
Muzaffarnagar |
M/30 |
โน4,011.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $633.50 ton, whereas the New York Sugar #11 front month contract is trading at 22.31 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 82.995 whereas USD was trading with BRL at 4.9160, Crude futures traded at โน5963, Crude WTI traded at $71.93 barrel. Sensex closed 969.55 points higher at 71483.75 whereas Nifty ended 273.95 points higher at 21456.65
