ChiniMandi, Mumbai: 24th Sep 2024
Domestic Market
Domestic sugar prices have remained steady.
Domestic sugar prices were reported to be stable, with prices remaining consistent across markets. Demand is said to be low, which puts pressure on prices. Furthermore, with crushing set to begin next month, prices are likely to remain under pressure. However, as global prices have risen sharply, Indian sugar has reached parity, which may limit aggressive price declines.
In Muzaffarnagar, M-grade sugar costs between Rs 3,810 and Rs 3,870 per quintal, while S-grade costs between Rs 3,580 and Rs 3,650 in Kolhapur. Agrimandi predicts that in the coming days, the price of S-grade sugar in Kolhapur will fall to between Rs 3,500 and Rs 3,650 per quintal.
Ex-mill Sugar Prices as on Sep, 24 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3570 to 3600 |
₹3650 to 3680 |
|
Karnataka |
₹3720 to 3850 |
₹3750 to 3900 |
|
Uttar Pradesh |
|
₹3810 to 3870 |
|
Gujarat |
₹3600 to 3630 |
₹3700 to 3750 |
|
Tamil Nadu |
₹3900 to 4000 |
₹3975 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, 24 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,084.50 |
|
Kanpur |
M/30 |
₹4,042.50 |
|
Kolhapur |
M/30 |
₹3,874.50 |
|
Kolkata |
M/30 |
₹4,137.00 |
|
Muzaffarnagar |
M/30 |
₹4,042.50 |
|
Ahmedabad |
M/30 |
₹4,021.50 |
|
Banglore |
M/30 |
₹4,053.00 |
|
Chennai |
M/30 |
₹4,168.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $590.10 ton, whereas the New York Sugar #11 front month contract is trading at 22.80 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.663 whereas USD was trading with BRL at 5.5138, Crude futures traded at ₹6040, Crude WTI traded at $72.06 barrel. Sensex closed 14.57 points lower at 84914.04 whereas Nifty closed 1.35 points higher at 25940.40
News Round-Up
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