ChiniMandi, Mumbai: 7th Oct 2024
Domestic Market
Domestic sugar prices were weak
After a slight increase, domestic sugar prices were reported to be weak across markets due to low demand. Prices have been reported lower by Rs 10 per quintal across the markets. However, sellers are hesitant to sell the produce because they anticipate price increases ahead of the festive season.
M-grade sugar in Muzaffarnagar ranges between Rs 3,920 and Rs 3,970 per quintal, whereas S-grade sugar in Kolhapur costs between Rs 3,580 and Rs 3,650. Agrimandi.live 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 Oct, 7 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3580 to 3620 |
₹3660 to 3700 |
|
Karnataka |
₹3720 to 3800 |
₹3760 to 3850 |
|
Uttar Pradesh |
|
₹3920 to 3970 |
|
Gujarat |
₹3651 to 3701 |
₹3725 to 3821 |
|
Tamil Nadu |
₹3850 to 4000 |
₹3950 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 Oct, 7 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,200.00 |
|
Kanpur |
M/30 |
₹4,158.00 |
|
Kolhapur |
M/30 |
₹3,895.50 |
|
Kolkata |
M/30 |
₹4,242.00 |
|
Muzaffarnagar |
M/30 |
₹4,158.00 |
|
Ahmedabad |
M/30 |
₹4,042.50 |
|
Banglore |
M/30 |
₹4,084.50 |
|
Chennai |
M/30 |
₹4,200.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $584.40 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 83.989 whereas USD was trading with BRL at 5.4578, Crude futures traded at ₹6384, Crude WTI traded at $75.75 barrel. Sensex closed 638.45 points lower at 84050.00 whereas Nifty closed 218.85 points lower at 24795.75
News Round-Up
What to expect in sugar season 2024-25?: Interview with Vijendra Singh, Executive Director & Dy. CEO, Shree Renuka Sugars
India and France can work together to develop robust global sustainable aviation fuel supply chain: Minister
Nepal: Two state-owned suppliers reduce sugar imports from India
Nepal: Two state-owned suppliers reduce sugar imports from India
