ChiniMandi, Mumbai: 28th Aug 2024
Domestic Market
Domestic sugar prices slightly increased; September, monthly quota at 23.5 lakh tons
Domestic sugar prices were said to be higher in the main markets following a prolonged decline. Prices in Muzaffarnagar recovered by Rs 10 per quintal, while in Kolhapur they recovered by Rs 15 per quintal. As the monthly quota was lower than the previous year, prices were supported.
In the meantime, September’s monthly quota has been assigned by the Food Ministry. The quota, according to the update, is reported at 23.5 lakh tons, which is 1.5 lakh tons higher than the previous month and 1.5 lakh tons lower than the same month the year before.
S-grade sugar cost between Rs 3,830 and Rs 3,890 per quintal in Muzaffarnagar and Rs 3,620 and Rs 3,660 in Kolhapur. Agrimandi predicts that during the next two weeks, S-grade sugar prices in the Kolhapur market will be in the range of Rs 3,600 and Rs 3,720 per quintal.
Ex-mill Sugar Prices as on Aug, 28 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3600 to 3630 |
₹3680 to 3710 |
|
Karnataka |
₹3730 to 3800 |
₹3850 |
|
Uttar Pradesh |
|
₹3830 to 3890 |
|
Gujarat |
₹3601 to 3631 |
₹3685 to 3731 |
|
Tamil Nadu |
₹3830 to 3875 |
₹3950 |
|
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, 28 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,084.50 |
|
Kanpur |
M/30 |
₹4,032.00 |
|
Kolhapur |
M/30 |
₹3,895.50 |
|
Kolkata |
M/30 |
₹4,147.50 |
|
Muzaffarnagar |
M/30 |
₹4,032.00 |
|
Ahmedabad |
M/30 |
₹4,005.75 |
|
Banglore |
M/30 |
₹4,037.25 |
|
Chennai |
M/30 |
₹4,163.25 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $547.40 ton, whereas the New York Sugar #11 front month contract is trading at 19.48 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.981 whereas USD was trading with BRL at 5.5304, Crude futures traded at ₹6289, Crude WTI traded at $74.75 barrel. Sensex closed 73.80 points higher at 81785.56 whereas Nifty closed 34.60 points higher at 25052.35
News Round-Up
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