ChiniMandi, Mumbai: 02nd Sep 2024
Domestic Market
Domestic sugar prices were weak
Domestic sugar prices were reported to be low in the major markets, despite average demand. Prices in spot markets are falling as crop conditions improve across the major growing regions. Prices dropped by Rs 5 per quintal across the markets.
M-grade sugar is priced between Rs 3,825 and Rs 3,885 per quintal in Muzaffarnagar, while S-grade ranges between Rs 3,600 and Rs 3,650 in Kolhapur. Agrimandi expects S-grade sugar prices in the Kolhapur market to range between Rs 3,600 and Rs 3,720 per quintal in the next two weeks.
Ex-mill Sugar Prices as on Sep, 02 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3580 to 3610 |
₹3660 to 3690 |
|
Karnataka |
₹3730 to 3825 |
₹3775 to 3875 |
|
Uttar Pradesh |
|
₹3825 to 3885 |
|
Gujarat |
₹3620 to 3650 |
₹3700 to 3750 |
|
Tamil Nadu |
₹3850 to 3900 |
₹3775 |
|
Madhya Pradesh |
₹3730 to 3770 |
₹3975 |
|
Punjab |
₹4000 to 4060 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Sep, 02 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,074.00 |
|
Kanpur |
M/30 |
₹4,026.75 |
|
Kolhapur |
M/30 |
₹3,879.75 |
|
Kolkata |
M/30 |
₹4,142.25 |
|
Muzaffarnagar |
M/30 |
₹4,026.75 |
|
Ahmedabad |
M/30 |
₹3,990.00 |
|
Banglore |
M/30 |
₹4,026.75 |
|
Chennai |
M/30 |
₹4,152.75 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $532.90 ton, whereas the New York Sugar #11 front month contract is trading at 19.38 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.899 whereas USD was trading with BRL at 5.6495, Crude futures traded at ₹6196, Crude WTI traded at $73.62 barrel. Sensex closed 194.07 points higher at 82559.84 whereas Nifty closed 37.40 points higher at 25273.30
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