ChiniMandi, Mumbai: 30th April 2024
Domestic Market
Domestic sugar prices traded higher
Domestic sugar prices in the major markets are expected to trade higher despite the increased monthly quota.
In Muzaffarnagar, M-grade sugar ranged between Rs 3,870 and Rs 3,890 per quintal, while S-grade sugar ranged between Rs 3,510 and Rs 3,550. Agrimandi predicts that the price of S grade sugar in the Kolhapur market will fall to between Rs 3,460 and Rs 3,580 per quintal within the next two weeks.
Ex-mill Sugar Prices as on April, 30 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3540 to 3560 |
₹3620 to 3640 |
|
Karnataka |
₹3800 |
– |
|
Uttar Pradesh |
|
₹3870 to 3890 |
|
Gujarat |
₹3575 to 3610 |
₹3675 to 3720 |
|
Tamil Nadu |
₹3800 to 3850 |
₹3860 |
|
Madhya Pradesh |
₹3700 to 3760 |
₹3780 to 3820 |
|
Punjab |
₹3950 to 4010 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on April, 30 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,116.00 |
|
Kanpur |
M/30 |
₹4,074.00 |
|
Kolhapur |
M/30 |
₹3822.00 |
|
Kolkata |
M/30 |
₹4137.00 |
|
Muzaffarnagar |
M/30 |
₹4074.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $571.50 ton, whereas the New York Sugar #11 front month contract is trading at 20.12 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.435 whereas USD was trading with BRL at 5.1435, Crude futures traded at ₹6949, Crude WTI traded at $83.16 barrel. Sensex closed 188.50 points lower at 74482.78 whereas Nifty ended 38.55 points lower at 22604.85
News Round-Up
Government deducts sugar quota of 65 mills for selling excess sugar
Government deducts sugar quota of 65 mills for selling excess sugar
State-wise monthly sugar quota for sale in May 2024
Sugar production in India reaches 315.90 lakh tonnes; 23 mills continue crushing operations
Sugar production in India reaches 315.90 lakh tonnes; 23 mills continue crushing operations
