ChiniMandi, Mumbai: 25th June 2024
Domestic Market
Sugar prices traded stable to weak
Domestic sugar prices continued to trade stable to weak, with prices falling by Rs 5 per quintal in Muzaffarnagar and remaining stable in Kolhapur. Meanwhile, the Indian monsoon has moved across Maharashtra after being stalled for 8-9 days, and conditions are favorable for continued progress. Monsoon rains were reported to be 63% higher in North Karnataka, 21% in West Maharashtra, and 40% in Marathwada.
M-grade sugar in Muzaffarnagar trades for between Rs 3,835 and Rs 3,855 per quintal, while S-grade sugar in Kolhapur costs between Rs 3,570 and Rs 3,610. Agrimandi expects the price of S grade sugar in the Kolhapur market to fall between Rs 3,540 and Rs 3,660 per quintal in the next two weeks.
Ex-mill Sugar Prices as on June, 25 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3570 to 3600 |
₹3650 to 3680 |
|
Karnataka |
₹3740 to 3750 |
– |
|
Uttar Pradesh |
|
₹3835 to 3855 |
|
Gujarat |
₹3605 to 3641 |
₹3705 to 3731 |
|
Tamil Nadu |
₹3785 to 3850 |
₹3845 |
|
Madhya Pradesh |
₹3720 to 3780 |
₹3750 to 3800 |
|
Punjab |
₹3975 to 4060 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on June, 25 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,079.25 |
|
Kanpur |
M/30 |
₹4,037.25 |
|
Kolhapur |
M/30 |
₹3,853.50 |
|
Kolkata |
M/30 |
₹4,100.25 |
|
Muzaffarnagar |
M/30 |
₹4,037.25 |
|
Ahmedabad |
M/30 |
₹3,969.00 |
|
Banglore |
M/30 |
₹3,963.75 |
|
Chennai |
M/30 |
₹4,079.25 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $569.20 ton, whereas the New York Sugar #11 front month contract is trading at 19.33 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.415 whereas USD was trading with BRL at 5.3920, Crude futures traded at ₹6774, Crude WTI traded at $81.14 barrel. Sensex closed 712.44 points higher at 78053.52 whereas Nifty closed 183.45 points higher at 23721.30
News Round-Up
Digitisation in sugar sector key focus at 64th ISO Council Meeting
Digitisation in sugar sector key focus at 64th ISO Council Meeting
Union Minister Pralhad Joshi calls for global collaboration on sugar and biofuels
Union Minister Pralhad Joshi calls for global collaboration on sugar and biofuels
NFCSF and NCDC come together to provide 10,000 cane harvesters to sugar mills
NFCSF and NCDC come together to provide 10,000 cane harvesters to sugar mills
