ChiniMandi, Mumbai: 28th July 2023
Domestic Market
Weak sentiment reported in domestic sugar prices
Domestic sugar prices were reported to be low due to low demand. Prices in the major markets were lower by Rs 10 per quintal across the centers. In a notification issued on 28th day of July 2023, the food ministry has allocated 23.5 LMT monthly sugar quota for August 2023 which is 1.5 LMT higher than the quantity allocated in August 2022. August’s quota is 0.50 LMT lower than the previous month’s quota. The government has also extended unsold quota of July 2023 by 15 days.
In Kolhapur, S-grade costs between Rs 3,460 and Rs 3,500, while M-grade costs between Rs 3,630 and Rs 3,660 in Uttar Pradesh. According to AgriMandi.live, the price of S grade is expected to trade in the Kolhapur markets in the near future between Rs 3,440 and Rs 3,550 per quintal.
Ex-mill Sugar Prices as on July, 28 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3460 to 3500 |
₹3560 to 3600 |
|
Karnataka |
₹3530 to 3600 |
– |
|
Uttar Pradesh |
|
₹3600 to 3700 |
|
Gujarat |
₹3531 to 3551 |
₹3631 to 3651 |
|
Tamil Nadu |
₹3560 to 3700 |
₹3670 to 3750 |
|
Madhya Pradesh |
₹3670 to 3680 |
₹3740 to 3750 |
|
Punjab |
₹3750 to 3786 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on July, 28 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3,895.50 |
|
Kanpur |
M/30 |
₹3,832.50 |
|
Kolhapur |
M/30 |
₹3,769.50 |
|
Kolkata |
M/30 |
₹3,979.50 |
|
Muzaffarnagar |
M/30 |
₹3,832.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $680.60 ton, whereas the New York Sugar #11 front month contract is trading at 24.08 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 82.201whereas USD was trading with BRL at 4.7491, Crude futures traded at ₹6561, Crude WTI traded at $79.89 barrel. Sensex closed 106.62 points lower at 66160.20 whereas Nifty ended 13.85 points lower at 19646.05
News Round-Up
Philippines: SRA firm on reopening sugar mills in September
Goa: Won’t allow to grab land of Sanjivani Sugar Factory for other projects, warn farmers
Goa: Won’t allow to grab land of Sanjivani Sugar Factory for other projects, warn farmers
71 commercial scale biogas/CBG plants under SATAT commissioned till June 2023
71 commercial scale biogas/CBG plants under SATAT commissioned till June 2023
Rs 17,000 crore under PM-KISAN released by PM Modi will benefit farmers from across the country: Tripura CM Manik Saha
IMD forecasts heavy rainfall, gusty winds in Mumbai
