ChiniMandi, Mumbai: 16th August 2023
Domestic Market
Domestic prices continue to be stable
Sugar prices are said to be stable in Maharashtra and Uttar Pradesh’s major markets. Demand is reported to be very good at lower price levels, viz., Rs 3,520-3,530 per quintal, but there are no takers for sugar priced between Rs 3,580 and Rs 3,600 per quintal. Most of the buyers are remaining hand to mouth which is keeping prices under control.
In Kolhapur, S-grade sugar was priced between Rs 3,510 and Rs 3,530, while M-grade sugar in Uttar Pradesh was priced between Rs 3,670 and Rs 3,710. AgriMandi.live predicts that in the near future, S grade is expected to trade between Rs 3,500 and Rs 3,580 per quintal in the Kolhapur markets.
Ex-mill Sugar Prices as on August, 16 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3510 to 3560 |
₹3610 to 3660 |
|
Karnataka |
₹3570 to 3600 |
– |
|
Uttar Pradesh |
|
₹3650 to 3730 |
|
Gujarat |
₹3561 to 3581 |
₹3641 to 3661 |
|
Tamil Nadu |
₹3625 to 3725 |
₹3710 to 3775 |
|
Madhya Pradesh |
₹3720 to 3730 |
₹3790 to 3800 |
|
Punjab |
₹3660 to 3831 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on August, 16 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3,916.50 |
|
Kanpur |
M/30 |
₹3,864.00 |
|
Kolhapur |
M/30 |
₹3,832.50 |
|
Kolkata |
M/30 |
₹4,021.50 |
|
Muzaffarnagar |
M/30 |
₹3,874.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $695.10 ton, whereas the New York Sugar #11 front month contract is trading at 23.85 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.187 whereas USD was trading with BRL at 4.9859, Crude futures traded at ₹6734, Crude WTI traded at $80.78 barrel. Sensex closed 137.50 points higher at 65539.42 whereas Nifty ended 30.45 points higher at 19465.00
News Round-Up
Sugar smuggling affecting domestic sugar industry: Bangladesh Sugar Refiners Association
Sugar smuggling affecting domestic sugar industry: Bangladesh Sugar Refiners Association
Moradabad: Sugarcane farmer increases income by using cane to produce new products
Moradabad: Sugarcane farmer increases income by using cane to produce new products
Uganda: Cane poachers causing loss of Shs22 billion to Kinyara Sugar factory annually
Uganda: Cane poachers causing loss of Shs22 billion to Kinyara Sugar factory annually
Brazil: São Paulo government focuses on producing green hydrogen from ethanol
Brazil: São Paulo government focuses on producing green hydrogen from ethanol
Sensex ends 138 points higher, Nifty above 19,450
