Domestic Market
Domestic sugar prices reported to be stable
Sugar prices in the major markets, according to reports, are stable. Prices are expected to fall as the crushing season continues; buyers prefer hand to mouth. According to reports, there is less demand at tender prices, but there is strong resale demand.
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, 22 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3610 to 3650 |
₹3690 to 3730 |
|
Karnataka |
₹3675 |
₹3725 |
|
Uttar Pradesh |
|
₹3695 to 3805 |
|
Gujarat |
₹3625 to 3651 |
₹3711 to 3741 |
|
Tamil Nadu |
₹3750 to 3875 |
₹3820 to 3900 |
|
Madhya Pradesh |
₹3600 to 3740 |
₹3700 to 3800 |
|
Punjab |
₹3850 to 3921 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on December, 22 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 $591.40 ton, whereas the New York Sugar #11 front month contract is trading at 20.35 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.135 whereas USD was trading with BRL at 4.8716, Crude futures traded at ₹6191, Crude WTI traded at $74.23 barrel. Sensex closed 241.86 points higher at 71106.96 whereas Nifty ended 94.35 points higher at 21349.40.
