ChiniMandi, Mumbai: 13th Aug 2024
Domestic Market
Domestic sugar prices remain steady to weak.
Domestic sugar prices remained stable to low in key markets due to low demand for higher pricing. Prices fell by Rs 10 per quintal in Uttar Pradesh while being steady in Maharashtra. According to local sources, demand is exceedingly low, prompting huge cost increases.
The price range for S-grade sugar in Muzaffarnagar was Rs 3,880-3,930 per quintal, whilst in Kolhapur it was Rs 3,630-3,670. Agrimandi forecasts that the price of S-grade sugar in the Kolhapur market will vary between Rs 3,600 and Rs 3,750 per quintal over the next two weeks.
Ex-mill Sugar Prices as on Aug, 13 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3600 to 3650 |
₹3680 to 3730 |
|
Karnataka |
₹3775 to 3825 |
– |
|
Uttar Pradesh |
|
₹3890 to 3940 |
|
Gujarat |
₹3635 to 3666 |
₹3735 to 3766 |
|
Tamil Nadu |
₹3850 to 4025 |
₹4000 to 4125 |
|
Madhya Pradesh |
₹3730 to 3770 |
₹3820 to 3860 |
|
Punjab |
₹4000 to 4060 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Aug, 13 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,137.00 |
|
Kanpur |
M/30 |
₹4,084.50 |
|
Kolhapur |
M/30 |
₹3,906.00 |
|
Kolkata |
M/30 |
₹4,189.50 |
|
Muzaffarnagar |
M/30 |
₹4,084.50 |
|
Ahmedabad |
M/30 |
₹4,021.50 |
|
Banglore |
M/30 |
₹4,053.00 |
|
Chennai |
M/30 |
₹4,189.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $527.70 ton, whereas the New York Sugar #11 front month contract is trading at 18.63 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.950 whereas USD was trading with BRL at 5.4852, Crude futures traded at ₹6678, Crude WTI traded at $79.50 barrel. Sensex closed 692.89 points lower at 78956.03 whereas Nifty closed 208.00 points lower at 24139.00
News Round-Up
Government considering proposal to increase ethanol prices for 2024-25 season
Government considering proposal to increase ethanol prices for 2024-25 season
Sugarcane’s efficiency in water utilisation and ethanol production confirmed by ICAR-IISR Report
Sugarcane’s efficiency in water utilisation and ethanol production confirmed by ICAR-IISR Report
Sugarcane is the most efficient crop in terms of water and land utilisation: ISMA President
Sugarcane is the most efficient crop in terms of water and land utilisation: ISMA President
