ChiniMandi, Mumbai: 9th Oct 2024
Domestic Market
Domestic sugar prices reported weak
Domestic sugar prices have been observed to be weak across markets as a result of diminished demand. Prices have decreased by Rs 10 per quintal in Maharashtra markets and by Rs 20 per quintal in Uttar Pradesh markets. Crushing is anticipated to commence in Karnataka in mid-October, which is likely to exert downward pressure on prices.
The price of M-grade sugar in Muzaffarnagar is between Rs 3,900 and Rs 3,950 per quintal, while S-grade sugar in Kolhapur is priced between Rs 3,570 and Rs 3,640. Agrimandi.live anticipates that S-grade sugar prices in Kolhapur will range from Rs 3,500 to Rs 3,650 per quintal in the near future.
Ex-mill Sugar Prices as on Oct, 9 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3565 to 3605 |
₹3645 to 3685 |
|
South Karnataka |
₹3680 to 3800 |
₹3680 to 3850 |
|
Uttar Pradesh |
|
₹3900 to 3950 |
|
Gujarat |
₹3631 to 3681 |
₹3705 to 3801 |
|
Tamil Nadu |
₹3850 to 3975 |
₹3950 to 4075 |
|
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, 9 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,179.00 |
|
Kanpur |
M/30 |
₹4,137.00 |
|
Kolhapur |
M/30 |
₹3,885.00 |
|
Kolkata |
M/30 |
₹4,221.00 |
|
Muzaffarnagar |
M/30 |
₹4,137.00 |
|
Ahmedabad |
M/30 |
₹4,032.00 |
|
Banglore |
M/30 |
₹4,074.00 |
|
Chennai |
M/30 |
₹4,189.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $566.00 ton, whereas the New York Sugar #11 front month contract is trading at 22.29 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.963 whereas USD was trading with BRL at 5.5350, Crude futures traded at ₹6151, Crude WTI traded at $73.12 barrel. Sensex closed 167.71 points lower at 81467.10 whereas Nifty closed 31.20 points lower at 24981.95
News Round-Up
Bangladesh: National Board of Revenue reduces regulatory duty on sugar imports by 50 percent
Bangladesh: National Board of Revenue reduces regulatory duty on sugar imports by 50 percent
JSW Infra receives LOI from Maharashtra Maritime Board for developing all weather and multipurpose port in Palghar
Brazil’s ethanol firm to proceed with next stage of carbon capture project
Brazil’s ethanol firm to proceed with next stage of carbon capture project
