ChiniMandi, Mumbai: 26th Aug 2024
Domestic Market
Weak sentiment witnessed in domestic sugar prices
Domestic sugar prices were reported to be weaker in the major markets, falling by Rs 10 per quintal in Muzaffarnagar and Rs 5 per quintal in Kolhapur. According to local sources, demand remains extremely low despite the limited supply, as the monthly quota was lower than expected, resulting in stable prices.
The price range for S-grade sugar in Muzaffarnagar was Rs 3,830–3,890 per quintal, while in Kolhapur it was Rs 3,610–3,650. Agrimandi expects S-grade sugar prices in the Kolhapur market to range between Rs 3,600 and Rs 3,720 per quintal over the next two weeks.
Ex-mill Sugar Prices as on Aug, 26 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3575to 3615 |
₹3655 to 3695 |
|
Karnataka |
₹3730 to 3800 |
₹3850 |
|
Uttar Pradesh |
|
₹3830 to 3890 |
|
Gujarat |
₹3601 to 3631 |
₹3685 to 3731 |
|
Tamil Nadu |
₹3825 to 3875 |
₹3975 |
|
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, 26 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,084.50 |
|
Kanpur |
M/30 |
₹4,032.00 |
|
Kolhapur |
M/30 |
₹3,885.00 |
|
Kolkata |
M/30 |
₹4,137.00 |
|
Muzaffarnagar |
M/30 |
₹4,032.00 |
|
Ahmedabad |
M/30 |
₹4,000.50 |
|
Banglore |
M/30 |
₹4,032.00 |
|
Chennai |
M/30 |
₹4,158.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $525.70 ton, whereas the New York Sugar #11 front month contract is trading at 18.93 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.876 whereas USD was trading with BRL at 5.4928, Crude futures traded at ₹6492, Crude WTI traded at $77.19 barrel. Sensex closed 611.90 points higher at 81698.11 whereas Nifty closed 187.45 points higher at 25010.60
News Round-Up
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