ChiniMandi, Mumbai: 10th April 2024
Domestic Market
Domestic sugar prices continued to trade higher
Domestic sugar prices in major markets were traded higher for the third session. Demand is reported to be very good and moreover, closure of mills is supporting 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 3,810 per quintal, while S-grade sugar is expected to cost between Rs 3,440 and Rs 3,480. Agrimandi predicts that the price of S grade sugar in the Kolhapur market will fall to between Rs 3,440 and Rs 3,500 per quintal within the next two weeks.
Ex-mill Sugar Prices as on April, 10 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3470 to 3500 |
₹3550 to 3650 |
|
Karnataka |
₹3700 |
– |
|
Uttar Pradesh |
|
₹3780 to 3810 |
|
Gujarat |
₹3501 to 3531 |
₹3551 to 3591 |
|
Tamil Nadu |
₹3725 to 3850 |
₹3790 |
|
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, 10 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,032.00 |
|
Kanpur |
M/30 |
₹3,979.50 |
|
Kolhapur |
M/30 |
₹3,759.00 |
|
Kolkata |
M/30 |
₹4,011.00 |
|
Muzaffarnagar |
M/30 |
₹3,974.25 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $635.70 ton, whereas the New York Sugar #11 front month contract is trading at 21.73 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.208 whereas USD was trading with BRL at 5.0023, Crude futures traded at ₹7137, Crude WTI traded at $85.80 barrel. Sensex closed 354.45 points higher at 75038.15 whereas Nifty ended 111.05 points higher at 22753.80
News Round-Up
Government directs sugar mills to report complete information regarding dispatch of sugar
Government directs sugar mills to report complete information regarding dispatch of sugar
Industry speaks: Outlook on domestic sugar prices post crushing season
Industry speaks: Outlook on domestic sugar prices post crushing season
Yamaha Motor India focuses on ethanol
