ChiniMandi, Mumbai: 23rd September 2023
Domestic Market
Domestic prices continue to trade steady for the third session
Domestic sugar prices were quoted as stable for the third session after a sharp increase the previous week. Trade activity is reported to be dull due to the festive season. To keep prices from rising further, the Food Ministry has already set aside 13 lakh tons of quota for the month of October. However, given the current weather conditions and the stocks associated with the mills, prices are likely to rise further in the near future.
Furthermore, rain is expected in the first two weeks of October, which could delay the start of crushing operations. Given that crushing activity is likely to be delayed, prices may benefit in the short term because stocks are at multi-year lows.
In Kolhapur, quintals of S grade sugar cost between Rs. 3,650 and 3,680, while M grade prices in Muzaffarnagar range from Rs. 3,850 to 3,880. AgriMandi forecasts the S grade sugar in the markets of Kolhapur between Rs 3,620 and Rs 3,700.
Ex-mill Sugar Prices as on September, 23 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
โน3655 to 3680 |
โน3755 to 3780 |
|
Karnataka |
โน3725 |
– |
|
Uttar Pradesh |
|
โน3815 to 3920 |
|
Gujarat |
โน3651 to 3701 |
โน3751 to 3791 |
|
Tamil Nadu |
โน3750 to 3825 |
โน3825 to 3875 |
|
Madhya Pradesh |
โน3790 to 3805 |
โน3860 to 3875 |
|
Punjab |
โน3950 to 4071 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on September, 23 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
โน4105.50 |
|
Kanpur |
M/30 |
โน4063.50 |
|
Kolhapur |
M/30 |
โน3958.50 |
|
Kolkata |
M/30 |
โน4168.50 |
|
Muzaffarnagar |
M/30 |
โน4074.00 |
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