ChiniMandi, Mumbai: 24th February 2024
Domestic Market
Domestic Sugar prices were mixed
Domestic sugar prices reflected a mixed sentiment. Buyers prefer hand-to-mouth transactions as sugar production increases, expecting further price reductions. Due to higher than anticipated production in Maharashtra and Karnataka, Indian sugar production is anticipated to reach 32 MMT. In addition, the Indian government has restated that no plans exist to redirect cane towards the production of ethanol due to the fact that crushing is almost finished and some mills have shut down.
It is reported that the cost of S-grade sugar in Kolhapur is approximately Rs 3,420 – Rs 3,460 per quintal, while the cost of M-grade sugar in Muzaffarnagar is approximately Rs 3,740 – Rs 3,790 per quintal. Agrimandi predicts that in the next two weeks, the price of S grade sugar in the Kolhapur market will likely fluctuate between Rs 3,400 and Rs 3,550 per quintal. Prices per quintal in Solapur, however, were reportedly between Rs 3,330 and Rs 3,400.
Ex-mill Sugar Prices as on February, 24 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3400 to 3450 |
₹3480 to 3530 |
|
Karnataka |
₹3600 |
₹3650 |
|
Uttar Pradesh |
|
₹3750 to 3790 |
|
Gujarat |
₹3511 to 3541 |
₹3571 to 3611 |
|
Tamil Nadu |
₹3600 to 3900 |
₹3700 to 3950 |
|
Madhya Pradesh |
₹3700 to 3720 |
₹3750 to 3770 |
|
Punjab |
₹3825 to 3880 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on February, 24 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,000.50 |
|
Kanpur |
M/30 |
₹3,958.50 |
|
Kolhapur |
M/30 |
₹3,748.50 |
|
Kolkata |
M/30 |
₹3,990.00 |
|
Muzaffarnagar |
M/30 |
₹3,953.25 |
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