ChiniMandi, Mumbai: 20th May 2024
Domestic Market
Weak sentiment continued in domestic sugar prices
Domestic sugar prices in the major markets were reported to be low for the second consecutive session due to weak demand. However, there were reports of strong demand at lower prices. Prices have dropped by Rs 10-20 per quintal across the market. In addition, lower temperatures due to rainfall activity and the early end of the wedding season are weighing on demand.
In Muzaffarnagar, M-grade sugar ranged between Rs 3,870 and Rs 3,890 per quintal, whereas S-grade sugar traded between Rs 3,590 and Rs 3,630. Agrimandi expects the price of S grade sugar in the Kolhapur market to fall within the next two weeks to between Rs 3,540 and Rs 3,660 per quintal.
Ex-mill Sugar Prices as on May, 20 2024 :
| State | S/30 [Rates per Quintal] |
M/30
[Rates per Quintal] |
| Maharashtra | ₹3620 to 3650 | ₹3700 to 3730 |
| Karnataka | ₹3875 to 3900 | – |
| Uttar Pradesh | ₹3870 to 3890 | |
| Gujarat | ₹3651 to 3671 | ₹3755 to 3791 |
| Tamil Nadu | ₹3850 to 4000 | ₹3935 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, 20 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,116.00 |
|
Kanpur |
M/30 |
₹4,074.00 |
|
Kolhapur |
M/30 |
₹3,906.00 |
|
Kolkata |
M/30 |
₹4,137.00 |
|
Muzaffarnagar |
M/30 |
₹4,068.75 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $546.90 ton, whereas the New York Sugar #11 front month contract is trading at 18.47 c/lb.
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