ChiniMandi, Mumbai: 12th February 2024
Domestic Market
Steady to weak sentiment witnessed in domestic Sugar prices
Domestic sugar prices were reported to be steady to weak. Prices traded lower by Rs 5-10 per quintal in Kolhapur while stable in other markets. According to reports, prices are weighing as crushing is progressing well in comparison to market expectations indicating higher sugar production than initially anticipated.
According to reports, the price of S-grade sugar in Kolhapur ranged between Rs 3,430 and Rs 3,480 per quintal, whereas M-grade sugar in Muzaffarnagar was priced between Rs 3,740 and Rs 3,800. According to Agrimandi, the cost of S grade sugar in the Kolhapur market is expected to range between Rs 3,400 and Rs 3,550 per quintal in the coming two weeks. Prices in Solapur, however, were reported to be between Rs 3,380 and Rs 3,420 per quintal.
Ex-mill Sugar Prices as on February, 12 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3410 to 3450 |
₹3500 to 3530 |
|
Karnataka |
₹3580 to 3600 |
₹3630 |
|
Uttar Pradesh |
|
₹3740 to 3800 |
|
Gujarat |
₹3560 |
₹3621 to 3651 |
|
Tamil Nadu |
₹3625 to 3900 |
₹3685 to 3950 |
|
Madhya Pradesh |
₹3710 to 3720 |
₹3750 to 3770 |
|
Punjab |
₹3850 to 3880 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on February, 12 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3,984.75 |
|
Kanpur |
M/30 |
₹3,937.50 |
|
Kolhapur |
M/30 |
₹3759.00 |
|
Kolkata |
M/30 |
₹3,995.25 |
|
Muzaffarnagar |
M/30 |
₹3,932.25 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $661.00 ton, whereas the New York Sugar #11 front month contract is trading at 23.93 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.014 whereas USD was trading with BRL at 4.9537, Crude futures traded at ₹6319, Crude WTI traded at $76.11 barrel. Sensex closed 523.00 points lower at 71072.49 whereas Nifty ended 166.45 points lower at 21616.05
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