ChiniMandi, Mumbai: 14th Aug 2024
Domestic Market
Domestic sugar prices remained weak
Domestic sugar prices remained low in major markets due to insufficient demand at higher prices. Prices dropped by Rs 10 per quintal in Uttar Pradesh and Rs 5 per quintal 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 3,870-3,920 per quintal, while in Kolhapur it was Rs 3,625–3,660. 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, 14 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 |
|
₹3870 to 3920 |
|
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, 14 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,126.50 |
|
Kanpur |
M/30 |
₹4,074.00 |
|
Kolhapur |
M/30 |
₹3,900.75 |
|
Kolkata |
M/30 |
₹4,179.00 |
|
Muzaffarnagar |
M/30 |
₹4,074.00 |
|
Ahmedabad |
M/30 |
₹4,011.00 |
|
Banglore |
M/30 |
₹4,047.75 |
|
Chennai |
M/30 |
₹4,184.25 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $518.30 ton, whereas the New York Sugar #11 front month contract is trading at 18.17 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.942 whereas USD was trading with BRL at 5.4577, Crude futures traded at ₹6575, Crude WTI traded at $78.31 barrel. Sensex closed 149.85 points higher at 79105.88 whereas Nifty closed 4.20 points higher at 24143.20
News Round-Up
Gulshan Polyols’ board approves proposal of raising funds up to Rs 250 crores
Gulshan Polyols’ board approves proposal of raising funds up to Rs 250 crores
Shamli: Sugar mill officials assure to clear cane dues by September 21
Shamli: Sugar mill officials assure to clear cane dues by September 21
Karnataka: Govt plans to distribute pulses, sugar or oil instead of of cash/rice under Anna Bhagya scheme
