ChiniMandi, Mumbai: 10th Oct 2024
Domestic Market
Domestic sugar prices reported stable
Following a weak session, domestic sugar prices were reported to be stable across markets due to low demand. Demand is said to be dull, with buyers living hand-to-mouth. Furthermore, crushing is expected to begin in Karnataka in mid-October, putting 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, 10 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, 10 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 $563.40 ton, whereas the New York Sugar #11 front month contract is trading at 22.10 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.970 whereas USD was trading with BRL at 5.5833, Crude futures traded at ₹6226, Crude WTI traded at $74.06 barrel. Sensex closed 144.31 points higher at 81611.41 whereas Nifty closed 16.50 points higher at 24998.45
News Round-Up
ACFA – TERI report signals immense potential for India to improve its Biofuels Program
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BSF thwarts sugar smuggling attempts in Meghalaya
Maharashtra: 200 sugar mills paid 100 per cent FRP in 2023-24 season
Maharashtra: 200 sugar mills paid 100 per cent FRP in 2023-24 season
