ChiniMandi, Mumbai: 20th Aug 2024
Domestic Market
Stable to weak domestic sugar prices
Major markets reported stable to weak domestic sugar prices. Prices fell Rs 5 per quintal in Muzaffarnagar but held steady in Kolhapur. Local sources report low demand despite the low supply because the monthly quota was lower than expected, keeping prices stable.
S-grade sugar cost Rs 3,850-3,910 per quintal in Muzaffarnagar and Rs 3,620-3,660 in Kolhapur. Over the next two weeks, Agrimandi expects Kolhapur S-grade sugar prices to range from Rs 3,600 to Rs 3,750 per quintal.
Ex-mill Sugar Prices as on Aug, 20 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 |
|
₹3850 to 3910 |
|
Gujarat |
₹3621 to 3651 |
₹3705 to 3751 |
|
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, 20 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,110.75 |
|
Kanpur |
M/30 |
₹4,058.25 |
|
Kolhapur |
M/30 |
₹3,895.50 |
|
Kolkata |
M/30 |
₹4,163.25 |
|
Muzaffarnagar |
M/30 |
₹4,058.25 |
|
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 $505.10 ton, whereas the New York Sugar #11 front month contract is trading at 17.58 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.759 whereas USD was trading with BRL at 5.4499, Crude futures traded at ₹6188, Crude WTI traded at $73.78 barrel. Sensex closed 378.18 points higher at 80802.86 whereas Nifty closed 126.20 points higher at 24698.85
News Round-Up
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