ChiniMandi, Mumbai: 8th April 2024
Domestic Market
Domestic sugar prices traded higher
Domestic sugar prices in major markets were traded higher after trading weak for two sessions. Demand is reported to be good and moreover, closure of mills supported the sentiment in the spot markets. Prices in the major markets were reported higher by Rs 10-20 per quintal.
In Muzaffarnagar, M-grade sugar is priced between Rs 3,780 and Rs 3,820 per quintal, while S-grade sugar is expected to cost between Rs 3,420 and Rs 3,460. Agrimandi predicts that the price of S grade sugar in the Kolhapur market will fall to between Rs 3,400 and Rs 3,500 per quintal within the next two weeks.
Ex-mill Sugar Prices as on April, 8 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3470 to 3500 |
₹3550 to 3650 |
|
Karnataka |
₹3650 |
– |
|
Uttar Pradesh |
|
₹3770 to 3800 |
|
Gujarat |
₹3491 to 3521 |
₹3541 to 3581 |
|
Tamil Nadu |
₹3700 to 3800 |
₹3750 |
|
Madhya Pradesh |
₹3600 to 3610 |
₹3650 to 3660 |
|
Punjab |
₹3825 to 3860 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on April, 8 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,021.50 |
|
Kanpur |
M/30 |
₹3,974.25 |
|
Kolhapur |
M/30 |
₹3,748.50 |
|
Kolkata |
M/30 |
₹4,000.50 |
|
Muzaffarnagar |
M/30 |
₹3,969.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $645.70 ton, whereas the New York Sugar #11 front month contract is trading at 22.02 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.313 whereas USD was trading with BRL at 5.0648, Crude futures traded at ₹7186, Crude WTI traded at $86.30 barrel. Sensex closed 494.28 points higher at 74742.50 whereas Nifty ended 152.60 points higher at 22666.30
News Round-Up
Efforts required to achieve Zero Fresh Water Consumption (ZFC) and Zero Liquid Discharge (ZLD) in sugar industry
Yamunanagar: Sugar mill ends sugarcane crushing operations early this season
Yamunanagar: Sugar mill ends sugarcane crushing operations early this season
Tamil Nadu: Udhayanidhi Stalin assures to set up sugar mill in Omalur
Tamil Nadu: Udhayanidhi Stalin assures to set up sugar mill in Omalur
