ChiniMandi, Mumbai: 16th Aug 2024
Domestic Market
Domestic sugar prices have remained weak
Domestic sugar prices remained low in major markets due to a lack of demand for higher prices. Prices fell by Rs 10 per quintal in Uttar Pradesh and Rs 5 per quintal in Maharashtra. According to local sources, demand is extremely low, resulting in significant price increases.
The price range for S-grade sugar in Muzaffarnagar was Rs 3,860-3,910 per quintal, whereas in Kolhapur it was Rs 3,620-3,660. 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, 16 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3600 to 3650 |
₹3680 to 3730 |
|
Karnataka |
₹3750 to 3825 |
– |
|
Uttar Pradesh |
|
₹3860 to 3910 |
|
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, 16 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,116.00 |
|
Kanpur |
M/30 |
₹4,063.50 |
|
Kolhapur |
M/30 |
₹3,895.50 |
|
Kolkata |
M/30 |
₹4,168.50 |
|
Muzaffarnagar |
M/30 |
₹4,063.50 |
|
Ahmedabad |
M/30 |
₹4,005.75 |
|
Banglore |
M/30 |
₹4,042.50 |
|
Chennai |
M/30 |
₹4,179.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $520.40 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 5.4553, Crude futures traded at ₹6387, Crude WTI traded at $76.03 barrel. Sensex closed 1330.96 points higher at 80436.84 whereas Nifty closed 396.80 points higher at 24540.55
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