ChiniMandi, Mumbai: 06th May 2024
Domestic Market
Domestic sugar prices were stable
Domestic sugar prices in the major markets were reported to be lower Rs 10 per quintal, after a sharp increase in the previous session. Demand is reported to be dull at higher price levels. Prices rose sharply during the previous week, on the back of news of increase in sugar MSP.
In Muzaffarnagar, M-grade sugar costs between Rs 3,930 and Rs 3,950 per quintal, and S-grade sugar costs between Rs 3,600 and Rs 3,640 per quintal. Agrimandi expects the price of S grade sugar in the Kolhapur market to fall to between Rs 3,520 and Rs 3,660 per quintal within the next two weeks.
Ex-mill Sugar Prices as on May, 06 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3600 to 3640 |
₹3680 to 3720 |
|
Karnataka |
₹3900 |
– |
|
Uttar Pradesh |
|
₹3930 to 3950 |
|
Gujarat |
₹3651 to 3681 |
₹3751 to 3791 |
|
Tamil Nadu |
₹3875 to 4000 |
₹3940 to 3950 |
|
Madhya Pradesh |
₹3750 to 3820 |
₹3760 to 3860 |
|
Punjab |
₹4040 to 4120 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on May, 06 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,179.00 |
|
Kanpur |
M/30 |
₹4,137.00 |
|
Kolhapur |
M/30 |
₹3,916.50 |
|
Kolkata |
M/30 |
₹4,200.00 |
|
Muzaffarnagar |
M/30 |
₹4,137.00 |
International Market
London White Sugar #5 front month contract is not trading today on an occasion of Early May Bank Holiday, whereas the New York Sugar #11 front month contract is trading at 19.29 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.506 whereas USD was trading with BRL at 5.0755, Crude futures traded at ₹6592, Crude WTI traded at $78.83 barrel. Sensex closed 17.39 points higher at 73895.54 whereas Nifty ended 33.15 points lower at 22442.70
News Round-Up
Sugarcane yield estimation: Need to integrate conventional methods with new-age technologies, says Roshan Lal Tamak
Ethanol purchase helped farmers to receive about Rs 80,000 crore in past 10 years: PM Modi
Ethanol purchase helped farmers to receive about Rs 80,000 crore in past 10 years: PM Modi
Allowing exports will contribute to smooth functioning of sugar industry: ISMA
Allowing exports will contribute to smooth functioning of sugar industry: ISMA
