ChiniMandi, Mumbai: 14th February 2024
Domestic Market
Steady to firm sentiment reported in domestic Sugar prices
Domestic sugar prices were said to be stable or higher. Prices increased by Rs 5-10 per quintal in Muzaffarnagar, while remaining stable in other markets. According to reports, prices in Uttar Pradesh are rising due to mills’ lower monthly quotas. Demand is said to be good while prolonged crushing season in Maharashtra are keeping prices under control.
According to reports, the price of S-grade sugar in Kolhapur ranged between Rs 3,430 and Rs 3,480 per quintal, while M-grade sugar in Muzaffarnagar was between Rs 3,750 and Rs 3,810. 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. However, prices in Solapur were reported to be between Rs 3,350 and Rs 3,410 per quintal.
Ex-mill Sugar Prices as on February, 14 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3405 to 3420 |
₹3480 to 3500 |
|
Karnataka |
₹3580 to 3600 |
₹3630 |
|
Uttar Pradesh |
|
₹3780 to 3810 |
|
Gujarat |
₹3541 |
₹3601 to 3641 |
|
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, 14 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,016.25 |
|
Kanpur |
M/30 |
₹3,969.00 |
|
Kolhapur |
M/30 |
₹3759.00 |
|
Kolkata |
M/30 |
₹4,005.75 |
|
Muzaffarnagar |
M/30 |
₹3,958.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $652.50 ton, whereas the New York Sugar #11 front month contract is trading at 22.86 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.034 whereas USD was trading with BRL at 4.9537, Crude futures traded at ₹6474, Crude WTI traded at $77.97 barrel. Sensex closed 267.64 points higher at 71822.83 whereas Nifty ended 96.80 points higher at 21840.05
News Round-Up
Country achieves 11.20% ethanol blending; revised allocations and contracts in focus
Country achieves 11.20% ethanol blending; revised allocations and contracts in focus
Nigeria: Government urged to impose taxes on sugar-sweetened beverages
Nigeria: Government urged to impose taxes on sugar-sweetened beverages
Crushing operations at the Experimental Sugar Factory of National Sugar Institute begins today
Crushing operations at the Experimental Sugar Factory of National Sugar Institute begins today
Real Time Data is Well appreciated ! 🙂 👍