ChiniMandi, Mumbai: 20th December 2023
Domestic Market
Domestic sugar prices witnessed stable to weak
According to reports, sugar prices in the main markets are stable to low. Muzaffarnagar markets saw a Rs 10 per quintal price decline, whereas Kolhapur saw stable prices. There is reportedly less demand at tender prices, but resale demand is strong. Prices are expected to fall as the crushing season continues; buyers prefer hand to mouth.
M-grade sugar in Muzaffarnagar costs between Rs 3,800 and Rs 3,840 per quintal, while S-grade sugar in Kolhapur costs between Rs 3,560 and Rs 3,620 per quintal. According to Agrimandi.live, S grade sugar will trade in Kolhapur markets for between Rs 3,500 and Rs 3,650 per quintal in the next two weeks.
Ex-mill Sugar Prices as on December, 20 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3620 to 3660 |
₹3700 to 3740 |
|
Karnataka |
₹3670 to 3690 |
₹3725 to 3750 |
|
Uttar Pradesh |
|
₹3695 to 3805 |
|
Gujarat |
₹3571 to 3601 |
₹3651 to 3681 |
|
Tamil Nadu |
₹3750 to 3875 |
₹3810 to 3900 |
|
Madhya Pradesh |
₹3600 to 3750 |
₹3700 to 3820 |
|
Punjab |
₹3900 to 3941 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on December, 20 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,042.50 |
|
Kanpur |
M/30 |
₹4,000.50 |
|
Kolhapur |
M/30 |
₹3,874.50 |
|
Kolkata |
M/30 |
₹4,063.50 |
|
Muzaffarnagar |
M/30 |
₹4,000.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $614.30 ton, whereas the New York Sugar #11 front month contract is trading at 21.45 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.191 whereas USD was trading with BRL at 4.8669, Crude futures traded at ₹6249, Crude WTI traded at $74.92 barrel. Sensex closed 930.88 points lower at 70506.31 whereas Nifty ended 302.95 points lower at 21150.15
News Round-Up
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Markets end day in red: Sensex tumbles 931 points, Nifty holds 21,150
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