ChiniMandi, Mumbai: 19th April 2024
Domestic Market
Domestic sugar prices were stable after a surge
Domestic sugar prices in the major markets are said to be stable after a sharp rise over the previous three to four sessions. Prices have risen by nearly Rs 150 per quintal over the last three to four sessions due to lower quota availability. According to the market update, 90% of the quota has already been reached, resulting in a sharp increase in prices. Following the recent price rally, the Food Ministry may approve an additional quota of 2.0-3.0 lakh tons in the coming days.
In Muzaffarnagar, M-grade sugar is priced between Rs 3,890 and Rs 3,920 per quintal, while S-grade sugar is expected to cost between Rs 3,550 and Rs 3,600. Agrimandi expects the price of S grade sugar in the Kolhapur market to fall to between Rs 3,450 and Rs 3,580 per quintal within the next two weeks.
Ex-mill Sugar Prices as on April, 19 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3530 to 3570 |
₹3610 to 3650 |
|
Karnataka |
No rate |
– |
|
Uttar Pradesh |
|
₹3890 to 3920 |
|
Gujarat |
₹3615 to 3650 |
₹3715 to 3760 |
|
Tamil Nadu |
Holiday |
Holiday |
|
Madhya Pradesh |
₹3630 to 3670 |
₹3670 to 3730 |
|
Punjab |
₹3870 to 4000 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on April, 19 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,147.50 |
|
Kanpur |
M/30 |
₹4,105.50 |
|
Kolhapur |
M/30 |
₹3,864.00 |
|
Kolkata |
M/30 |
₹4,179.00 |
|
Muzaffarnagar |
M/30 |
₹4,100.25 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $570.80 ton, whereas the New York Sugar #11 front month contract is trading at 19.69 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.475 whereas USD was trading with BRL at 5.2421, Crude futures traded at ₹6845, Crude WTI traded at $82.16 barrel. Sensex closed 599.34 points higher at 73088.33 whereas Nifty ended 151.15 points higher at 22147.00
News Round-Up
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Maharashtra: 11 sugar mills continue sugarcane crushing operations
