ChiniMandi, Mumbai: 19th Sep 2024
Domestic Market
Domestic sugar prices were reported stable
After a sharp rise over the last 2-3 sessions, domestic sugar prices were reported to be stable. Demand is reported to be good, which is keeping prices supported at higher levels. As per the sources, sellers are less active as prices rallied sharply, indicating lesser liquidity in the open market.
In Muzaffarnagar, M-grade sugar ranges between Rs 3,840 and Rs 3,900 per quintal, while S-grade its between Rs 3,590 and Rs 3,660 in Kolhapur. Agrimandi predicts that in the upcoming days, the price of S-grade sugar in Kolhapur will drop to between Rs 3,500 and Rs 3,650 per quintal.
Ex-mill Sugar Prices as on Sep, 19 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3580 to 3600 |
₹3660 to 3680 |
|
Karnataka |
₹3720 to 3800 |
₹3750 to 3850 |
|
Uttar Pradesh |
|
₹3840 to 3900 |
|
Gujarat |
₹3620 to 3650 |
₹3720 to 3770 |
|
Tamil Nadu |
₹3825 to 4000 |
₹3950 to 4100 |
|
Madhya Pradesh |
₹3730 to 3770 |
₹3975 |
|
Punjab |
₹4000 to 4060 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Sep, 19 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,116.00 |
|
Kanpur |
M/30 |
₹4,074.00 |
|
Kolhapur |
M/30 |
₹3,885.00 |
|
Kolkata |
M/30 |
₹4,168.50 |
|
Muzaffarnagar |
M/30 |
₹4,068.75 |
|
Ahmedabad |
M/30 |
₹4,032.00 |
|
Banglore |
M/30 |
₹4,063.50 |
|
Chennai |
M/30 |
₹4,179.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $560.10 ton, whereas the New York Sugar #11 front month contract is trading at 21.12 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.673 whereas USD was trading with BRL at 5.4248, Crude futures traded at ₹, Crude WTI traded at $70.92 barrel. Sensex closed 236.57 points higher at 83184.80 whereas Nifty closed 38.25 points higher at 25415.80
News Round-Up
Data accuracy: Sugar mills begin API integration of ERP systems with NSWS portal
Data accuracy: Sugar mills begin API integration of ERP systems with NSWS portal
India, as largest producer of rice, sugar and more, has huge opportunity in processing and marketing these products: Pralhad Joshi
India will be third-largest economy by 2030-31 with projected annual growth of 6.7: S&P Global
India will be third-largest economy by 2030-31 with projected annual growth of 6.7: S&P Global
