ChiniMandi, Mumbai: 29th November 2023
Domestic Market
Domestic sugar prices fell marginally
Sugar prices in the major domestic markets have been reported to be depressed. According to reports, prices have dropped by Rs 10 per quintal. Buyers are preferring hand to mouth as prices are expected to remain under pressure due to the ongoing crushing season.
In Kolhapur, S-grade sugar costs between Rs 3,620 and Rs 3,650 per quintal, while M-grade sugar costs between Rs 3,930 and Rs 3,980. According to Agrimandi, S grade sugar will trade in Kolhapur markets for between Rs 3,600 and Rs 3,720 over the next two weeks.
Ex-mill Sugar Prices as on November, 29 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3630 to 3660 |
₹3730 to 3760 |
|
Karnataka |
₹3690 to 3715 |
₹3765 |
|
Uttar Pradesh |
|
₹3830 to 3935 |
|
Gujarat |
₹3671 to 3711 |
₹3751 to 3791 |
|
Tamil Nadu |
₹3800 to 3875 |
₹3850 to 3900 |
|
Madhya Pradesh |
₹3850 |
₹3900 |
|
Punjab |
₹3900 to 4201 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on November, 29 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,200.00 |
|
Kanpur |
M/30 |
₹4,158.00 |
|
Kolhapur |
M/30 |
₹3,916.50 |
|
Kolkata |
M/30 |
₹4,189.50 |
|
Muzaffarnagar |
M/30 |
₹4,158.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $739.00 ton, whereas the New York Sugar #11 front month contract is trading at 27.04 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.336 whereas USD was trading with BRL at 4.8745, Crude futures traded at ₹6458, Crude WTI traded at $77.34 barrel. Sensex closed 727.71 points higher at 66901.91 whereas Nifty ended 206.90 points higher at 20096.60
News Round-Up
Uttar Pradesh: Campaign organised to install reflectors on sugarcane vehicles
Uttar Pradesh: Campaign organised to install reflectors on sugarcane vehicles
Haryana: Technical glitch in Sonipat sugar mill resolved; crushing resumes
Haryana: Technical glitch in Sonipat sugar mill resolved; crushing resumes
Adani Power undertakes green ammonia combustion pilot project at Mundra plant
Adani Power undertakes green ammonia combustion pilot project at Mundra plant
Cabinet approves Garib Kalyan food grain programme for another 5 years
Cabinet approves Garib Kalyan food grain programme for another 5 years
Sensex ends 728 points higher, Nifty nears 20,100
