ChiniMandi, Mumbai: 19th March 2024
Domestic Market
Steady sentiment witnessed in domestic sugar prices
Domestic sugar prices in the major markets have remained steady due to strong demand. Prices in the major markets of Uttar Pradesh’s and Kolhapur were reported stable. Lower monthly quotas in Uttar Pradesh are boosting prices.
In Muzaffarnagar, M-grade sugar costs between Rs 3,785 and Rs 3,820 per quintal, while in Kolhapur, S-grade sugar is anticipated to cost between Rs 3,430 and Rs 3,470. Agrimandi expects the price of S grade sugar in the Kolhapur market to fall to between Rs 3,400 and Rs 3,480 per quintal within the next two weeks. Sugar grades in Solapur range between Rs 3360 and Rs 3,400 per quintal.
Ex-mill Sugar Prices as on March, 19 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3420 to 3470 |
₹3500 to 3550 |
|
Karnataka |
₹3600 |
– |
|
Uttar Pradesh |
|
₹3785 to 3820 |
|
Gujarat |
₹3481 to 3521 |
₹3531 to 3581 |
|
Tamil Nadu |
₹3590 to 3640 |
₹3675 |
|
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 March, 19 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,032.00 |
|
Kanpur |
M/30 |
₹3,984.75 |
|
Kolhapur |
M/30 |
₹3,738.00 |
|
Kolkata |
M/30 |
₹4,011.00 |
|
Muzaffarnagar |
M/30 |
₹3,979.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $618.40 ton, whereas the New York Sugar #11 front month contract is trading at 21.62 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.016 whereas USD was trading with BRL at 5.0466, Crude futures traded at ₹6862, Crude WTI traded at $82.14 barrel. Sensex closed 736.37 points lower at 72012.05 whereas Nifty ended 238.25 points lower at 21817.45
News Round-Up
Know your sugar industry: What is sugarcane Fair and Remunerative Price (FRP)?
Know your sugar industry: What is sugarcane Fair and Remunerative Price (FRP)?
Consolidated farming: A visionary need for enhancement in productivity of land
Consolidated farming: A visionary need for enhancement in productivity of land
Sustainability of ethanol production in current scenario: Navigating challenges and embracing opportunities
