ChiniMandi, Mumbai: 13th Sep 2024
Domestic Market
Domestic sugar prices were stable to weak
Following a steady session, domestic sugar prices were reported to be weak to stable. Prices continued to fall, dropping by Rs 15-20 per quintal in Uttar Pradesh, while Kolhapur was reported to be stable. Demand is reported to be dull as buyers remained hand to mouth as crop prospects are looking very good.
M-grade sugar is priced between Rs 3,725 and Rs 3,750 per quintal in Muzaffarnagar, while S-grade is priced between Rs 3,560 and Rs 3,620 in Kolhapur. Agrimandi expects S-grade sugar prices in Kolhapur to fall between Rs 3,500 and Rs 3,650 per quintal in the coming days.
Ex-mill Sugar Prices as on Sep, 13 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3570 to 3600 |
₹3650 to 3680 |
|
Karnataka |
₹3720 to 3800 |
₹3750 to 3850 |
|
Uttar Pradesh |
|
₹3725 to 3760 |
|
Gujarat |
₹3600 to 3630 |
₹3680 to 3730 |
|
Tamil Nadu |
₹3825 to 4000 |
₹3950 to 4100 |
|
Madhya Pradesh |
₹3730 to 3770 |
₹3975 |
|
Punjab |
₹4000 to 4060 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Sep, 13 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3,958.50 |
|
Kanpur |
M/30 |
₹3,916.50 |
|
Kolhapur |
M/30 |
₹3,858.75 |
|
Kolkata |
M/30 |
₹4,021.50 |
|
Muzaffarnagar |
M/30 |
₹3,916.50 |
|
Ahmedabad |
M/30 |
₹3,969.00 |
|
Banglore |
M/30 |
₹4,000.50 |
|
Chennai |
M/30 |
₹4,126.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $545.80 ton, whereas the New York Sugar #11 front month contract is trading at 19.28 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.922 whereas USD was trading with BRL at 5.6271, Crude futures traded at ₹5867, Crude WTI traded at $69.84 barrel. Sensex closed 71.77 points lower at 82890.94 whereas Nifty closed 32.40 points lower at 25356.50
News Round-Up
Tamil Nadu: Sugarcane Commissioner orders Ponni Sugars for payment of additional cane price
Tamil Nadu: Sugarcane Commissioner orders Ponni Sugars for payment of additional cane price
Engineers India Limited working on Pre-Feasibility Report for bamboo-based 2G ethanol bio-refinery in Meghalaya
DFPD and FCI signs MoU to enhance efficiency and accountability of food grain procurement and distribution
