ChiniMandi, Mumbai: 22nd March 2024
Domestic Market
Domestic sugar prices are reported stable.
Domestic sugar prices were reported to be stable after trading lower for two sessions. Demand is expected to be strong due to festive season. However, given the extended crushing season in Maharashtra, prices are expected to remain stable to weak in the coming days.
M-grade sugar in Muzaffarnagar ranges between Rs 3,765 and Rs 3,800 per quintal, whereas S-grade sugar in Kolhapur is expected to cost between Rs 3,415 and Rs 3,450. Agrimandi predicts that the price of S grade sugar in the Kolhapur market will fall to between Rs 3,400 and Rs 3,480 per quintal within the next two weeks. Sugar prices in Solapur range from Rs 3,360 to Rs 3,400 per quintal.
Ex-mill Sugar Prices as on March, 22 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3420 to 3470 |
₹3500 to 3550 |
|
Karnataka |
₹3600 |
– |
|
Uttar Pradesh |
|
₹3765 to 3800 |
|
Gujarat |
₹3481 to 3521 |
₹3531 to 3581 |
|
Tamil Nadu |
₹3575 to 3660 |
₹3660 |
|
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, 22 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,011.00 |
|
Kanpur |
M/30 |
₹3,963.75 |
|
Kolhapur |
M/30 |
₹3,722.25 |
|
Kolkata |
M/30 |
₹3,990.00 |
|
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 $644.80 ton, whereas the New York Sugar #11 front month contract is trading at 22.19 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.542 whereas USD was trading with BRL at 4.9996, Crude futures traded at ₹6793, Crude WTI traded at $81.32 barrel. Sensex closed 190.75 points higher at 72831.94 whereas Nifty ended 84.80 points higher at 22096.75
News Round-Up
Uttar Pradesh: Sugar production reaches 91.7 lakh tonnes, 30 mills end operations
Uttar Pradesh: Sugar production reaches 91.7 lakh tonnes, 30 mills end operations
Tamil Nadu: Farmers urges sugar mill to settle dues before resuming operations
Tamil Nadu: Farmers urges sugar mill to settle dues before resuming operations
Adani Green Energy Gallery at UK Science Museum becomes a reality
Adani Green Energy Gallery at UK Science Museum becomes a reality
