ChiniMandi, Mumbai: 14th May 2024
Domestic Market
Domestic sugar prices traded stable to weak
Domestic sugar prices in the major markets were reported to be stable to weak, owing to low demand at higher prices. Prices fell by Rs 20-30 per quintal in Uttar Pradesh markets, but remained stable in Maharashtra. The lower availability of sugar in Maharashtra is supporting the prices.
In Muzaffarnagar, M-grade sugar ranged from Rs 3,900 to Rs 3,920 per quintal, whereas S-grade sugar ranged between Rs 3,620 to Rs 3,650 per quintal. Agrimandi expects the price of S grade sugar in the Kolhapur market to fall to between Rs 3,540 and Rs 3,660 per quintal within the next two weeks.
Ex-mill Sugar Prices as on May, 14 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3630 to 3660 |
₹3710 to 3740 |
|
Karnataka |
₹3900 |
– |
|
Uttar Pradesh |
|
₹3900 to 3920 |
|
Gujarat |
₹3701 to 3721 |
₹3805 to 3841 |
|
Tamil Nadu |
₹3875 to 4000 |
₹3950 to 4050 |
|
Madhya Pradesh |
₹3750 to 3800 |
₹3790 to 3840 |
|
Punjab |
₹4000 to 4080 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on May, 14 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,158.00 |
|
Kanpur |
M/30 |
₹4,116.00 |
|
Kolhapur |
M/30 |
₹3,927.00 |
|
Kolkata |
M/30 |
₹4,179.00 |
|
Muzaffarnagar |
M/30 |
₹4,116.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $544.20 ton, whereas the New York Sugar #11 front month contract is trading at 18.37 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.511 whereas USD was trading with BRL at 5.1572, Crude futures traded at ₹6603, Crude WTI traded at $78.97 barrel. Sensex closed 328.48 points higher at 73104.61 whereas Nifty closed 113.80 points higher at 22217.85
News Round-Up
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