ChiniMandi, Mumbai: 24th February 2022
Domestic Market Update
Indian Sugar Production Update by ISMA
According to the Indian Sugar Mills Association (ISMA), as on 15th February 2022, 220.91 lac tons of sugar have been produced by the mills, as compared to 209.11 lac tons produced on the corresponding date of last year. Out of 516 sugar mills which had started crushing in 2021-22 SS, 13 sugar mills have stopped their crushing operations so far. Last year, 496 sugar mills had operated, out of which 32 had stopped crushing on the corresponding date last year.
Domestic Trade Market
According to marketmen the demand has been moderate.
State wise prices today:
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
โน3110 to 3180 |
โน3190 to 3270 |
|
Karnataka |
โน3120 to 3170 |
โน3210 to 3280 |
|
Uttar Pradesh |
|
โน3440 to 3590 |
|
Gujarat |
โน3150 (old) |
โน3271 to 3311 |
|
Tamil Nadu |
โน3320 to 3400 |
โน3375 to 3500 |
|
Madhya Pradesh |
โน3250 to 3280 |
โน3330 to 3360 |
|
Punjab |
|
โน3540 to 3621 |
|
(All the above rates are excluding GST) |
||
International Trade Market
At the time of writing this update, the London White Sugar front month contract is trading at $495.70/ton, whereas the New York Sugar front month contract is whereas US sugar #11 (SBH22)
Is trading at 18.53 c/lb.
Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 75.609, whereas USD was trading with BRL at 5.1393, Crude futures traded at Rs.7500, Crude WTI traded at $98.89 barrel. Sensex closed 2702.15 points lower at 54,429.91 whereas Nifty ended 815.30 points lower at 16,247.95.
