ChiniMandi, Mumbai: 31st October 2023
Domestic Market
Domestic sugar prices reported to be stable
Sugar prices in the major domestic market have remained stable for the second session after rising due to high holiday demand and limited supply. Due to tighter supply, prices in the major markets are trading at multi-year highs. Crushing activity has begun in Karnataka this week, which is expected to keep check on price rise from mid-November.
S-grade sugar costs between Rs. 3,680 and Rs. 3,740 per quintal in Kolhapur, while M-grade sugar costs between Rs. 3,980 and Rs. 4,020 per quintal. According to Agrimandi.live, S grade sugar in Kolhapur markets will trade between Rs 3,650 and Rs 3,750 in the next two weeks.
Ex-mill Sugar Prices as on October, 31 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
โน3640 to 3700 |
โน3740 to 3800 |
|
Karnataka |
โน3650 to 3710 |
โน3760 |
|
Uttar Pradesh |
|
โน3950 to 4015 |
|
Gujarat |
โน3691 to 3721 |
โน3771 to 3801 |
|
Tamil Nadu |
โน3755 to 3850 |
โน3815 to 3900 |
|
Madhya Pradesh |
โน3875 to 3900 |
โน3940 to 3960 |
|
Punjab |
โน4020 to 4251 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on October, 31 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
โน4,210.50 |
|
Kanpur |
M/30 |
โน4,179.00 |
|
Kolhapur |
M/30 |
โน3,990.00 |
|
Kolkata |
M/30 |
โน4,242.00 |
|
Muzaffarnagar |
M/30 |
โน4,189.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $735.60 ton, whereas the New York Sugar #11 front month contract is trading at 27.07 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.260 whereas USD was trading with BRL at 5.0448, Crude futures traded at โน6912, Crude WTI traded at $82.92 barrel. Sensex closed 237.72 points lower at 63874.93 whereas Nifty ended 61.30 points lower at 19079.60
News Round-Up
Thailand adds sugar to list of controlled goods
Haryana: Saraswati Sugar Mills to start sugarcane crushing operations today
Haryana: Saraswati Sugar Mills to start sugarcane crushing operations today
Haryana to increase sugarcane prices soon, says minister
Hardeep Singh Puri invites Mozambique to become member of Global Biofuels Alliance
Hardeep Singh Puri invites Mozambique to become member of Global Biofuels Alliance
Sensex ends 238 points lower, Nifty below 19,100
