ChiniMandi, Mumbai: 7h Aug 2024
Domestic Market
Domestic sugar prices were stable
After a slight fall from the past 2-3 sessions, domestic sugar prices in major markets were reported to be stable. Demand is reported to be average. However, falling global prices, which are widening the Indian sugar disparity in global markets, and higher sugar stocks with mills are expected to keep prices in check. However, if the food ministry does not allocate additional quotas, we may see another significant increase in the coming days.
In Kolhapur, the price range for S-grade sugar was Rs 3,660 to 3,700 per quintal, while in Muzaffarnagar it was Rs 3,940-3,990. Agrimandi expects the price of S grade sugar in the Kolhapur market to range between Rs 3,600 and Rs 3,750 per quintal over the next two weeks.
Ex-mill Sugar Prices as on Aug, 07 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3630 to 3670 |
₹3710 to 3750 |
|
Karnataka |
₹3800 to 3850 |
– |
|
Uttar Pradesh |
|
₹3940 to 3990 |
|
Gujarat |
₹3675 to 3706 |
₹3775 to 3806 |
|
Tamil Nadu |
₹3875 to 4050 |
₹4025 to 4150 |
|
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 Aug, 07 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,205.25 |
|
Kanpur |
M/30 |
₹4,147.50 |
|
Kolhapur |
M/30 |
₹3,937.50 |
|
Kolkata |
M/30 |
₹4,242.00 |
|
Muzaffarnagar |
M/30 |
₹4,147.50 |
|
Ahmedabad |
M/30 |
₹4,053.00 |
|
Banglore |
M/30 |
₹4,074.00 |
|
Chennai |
M/30 |
₹4,210.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $517.40 ton, whereas the New York Sugar #11 front month contract is trading at 18.18 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.945 whereas USD was trading with BRL at 5.6231, Crude futures traded at ₹6288, Crude WTI traded at $74.80 barrel. Sensex closed 874.94 points higher at 79468.01 whereas Nifty closed 322.70 points higher at 24315.25
News Round-Up
Uttar Pradesh: Sugarcane cultivation increases in Maharajganj
Uttar Pradesh: Sugarcane cultivation increases in Maharajganj
Ethanol boost: Over Rs 1,000 crore investment announced in Telangana to set up biofuel plant
Ethanol boost: Over Rs 1,000 crore investment announced in Telangana to set up biofuel plant
Government appoints Devesh Chaturvedi as Agriculture & Farmers Welfare Department Secretary
Government appoints Devesh Chaturvedi as Agriculture & Farmers Welfare Department Secretary
