ChiniMandi, Mumbai: 31st July 2024
Domestic Market
Sugar prices were stable to higher in domestic markets
Domestic sugar prices in the major markets were reported to be stable or higher. Prices rose by Rs 10 per quintal in Maharashtra, while sentiment remained stable in Uttar Pradesh. It is said that at higher price points, demand is average. Due to fewer monthly quotas, prices have increased by Rs 150–180 per quintal in Uttar Pradesh and Rs 100–120 per quintal in Maharashtra over the past two to three sessions.
The price range for S-grade sugar in Kolhapur was Rs 3,670 to 3,710 per quintal, whereas the price range for M-grade sugar in Muzaffarnagar was Rs 3,970 to 4,020. In the upcoming two weeks, Agrimandi predicts that the price of S grade sugar in the Kolhapur market will range between Rs 3,600 and Rs 3,750 per quintal.
Ex-mill Sugar Prices as on July, 31 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3640 to 3680 |
₹3720 to 3760 |
|
Karnataka |
₹3875 |
– |
|
Uttar Pradesh |
|
₹3970 to 4020 |
|
Gujarat |
₹3675 to 3706 |
₹3775 to 3806 |
|
Tamil Nadu |
₹3900 to 3925 |
₹4025 |
|
Madhya Pradesh |
₹3670 to 3685 |
₹3745 to 3785 |
|
Punjab |
₹3840 to 3920 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on July, 31 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,242.00 |
|
Kanpur |
M/30 |
₹4,189.50 |
|
Kolhapur |
M/30 |
₹3,948.00 |
|
Kolkata |
M/30 |
₹4,284.00 |
|
Muzaffarnagar |
M/30 |
₹4,189.50 |
|
Ahmedabad |
M/30 |
₹4,063.50 |
|
Banglore |
M/30 |
₹4,084.50 |
|
Chennai |
M/30 |
₹4,221.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $539.20 ton, whereas the New York Sugar #11 front month contract is trading at 19.10 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.698 whereas USD was trading with BRL at 5.6125, Crude futures traded at ₹6492, Crude WTI traded at $77.44 barrel. Sensex closed 285.94 points higher at 81741.34 whereas Nifty closed 121.65 points higher at 24978.95
News Round-Up
State-wise monthly sugar quota for sale in August 2024
Government deducts sugar quota of around 160 mills for violating stockholding limits
Government deducts sugar quota of around 160 mills for violating stockholding limits
CCI approves acquisition of 100 per cent share capital of Viterra by Bunge
CCI approves acquisition of 100 per cent share capital of Viterra by Bunge
