ChiniMandi, Mumbai: 19th Aug 2024
Domestic Market
Domestic sugar prices remained stable.
Domestic sugar prices remained stable in the markets for the second session. According to local sources, demand is extremely low, but supply is limited because the quota for the month was lower than expected, keeping prices stable.
The price range for S-grade sugar in Muzaffarnagar was Rs 3,860-3,910 per quintal, while in Kolhapur it was Rs 3,620-3,660. Agrimandi expects S-grade sugar prices 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, 19 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3600 to 3650 |
₹3680 to 3730 |
|
Karnataka |
₹3725 to 3800 |
– |
|
Uttar Pradesh |
|
₹3860 to 3910 |
|
Gujarat |
Holiday |
Holiday |
|
Tamil Nadu |
₹3820 to 4025 |
₹3975 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, 19 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 $517.30 ton, whereas the New York Sugar #11 front month contract is trading at 18.02 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.896 whereas USD was trading with BRL at 5.4693, Crude futures traded at ₹6401, Crude WTI traded at $75.08 barrel. Sensex closed 12.16 points lower at 80424.68 whereas Nifty closed 31.50 points higher at 24572.65
News Round-Up
We are expanding in both ethanol and biodiesel markets and aim to increase our ethanol capacity to 850 KLPD: Kushal Mittal, Joint MD, BCL Industries
Udagiri’s Dr. Rahul Kadam aims to revolutionise sugar production by prioritising efficiency by adopting modern technology
Ethanol production: SwachhBio has sufficient resources and plans to establish multiple units across Telangana, says Minister
