ChiniMandi, Mumbai: 25th Sep 2024
Domestic Market
Domestic sugar prices started to fall again
After a steady session, domestic sugar prices continue to fall due to weak demand. Demand is thought to be low, putting pressure on prices. Furthermore, with crushing scheduled to begin next month, prices are expected to remain under pressure. However, as global prices have risen sharply, Indian sugar has reached parity, potentially limiting aggressive price declines.
In Muzaffarnagar, M-grade sugar costs between Rs 3,800 and Rs 3,860 per quintal, while S-grade costs between Rs 3,575 and Rs 3,640 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, 25 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3570 to 3600 |
₹3650 to 3680 |
|
Karnataka |
₹3720 to 3850 |
₹3760 to 3900 |
|
Uttar Pradesh |
|
₹3800 to 3860 |
|
Gujarat |
₹3600 to 3630 |
₹3700 to 3750 |
|
Tamil Nadu |
₹3900 to 4000 |
₹3975 to 4100 |
|
Madhya Pradesh |
₹3700 to 3720 |
₹3750 to 3820 |
|
Punjab |
₹3950 to 4040 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Sep, 25 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,074.00 |
|
Kanpur |
M/30 |
₹4,032.00 |
|
Kolhapur |
M/30 |
₹3,869.25 |
|
Kolkata |
M/30 |
₹4,126.50 |
|
Muzaffarnagar |
M/30 |
₹4,032.00 |
|
Ahmedabad |
M/30 |
₹4,011.00 |
|
Banglore |
M/30 |
₹4,042.50 |
|
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 $590.00 ton, whereas the New York Sugar #11 front month contract is trading at 23.02 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.593 whereas USD was trading with BRL at 5.4648, Crude futures traded at ₹5888, Crude WTI traded at $70.07 barrel. Sensex closed 255.83 points higher at 85169.87 whereas Nifty closed 63.75 points higher at 26004.15
News Round-Up
Malaysia: “Wednesday will be sugar-free day in Parliament”
Odisha approves 31 projects, including ethanol and compressed biogas
Odisha approves 31 projects, including ethanol and compressed biogas
₹1,07,732 crore paid as sugarcane dues in 2023-24 season: DFPD
₹1,07,732 crore paid as sugarcane dues in 2023-24 season: DFPD
