ChiniMandi, Mumbai: 11th Oct 2024
Domestic Market
Domestic sugar prices are reported constant.
Domestic sugar prices were reported to be constant across markets for the second day, owing to low demand. Demand is claimed to be sluggish, with buyers preferring hand-to-mouth. Furthermore, crushing is likely to commence in Karnataka by mid-October, putting downward pressure on pricing.
M-grade sugar in Muzaffarnagar is priced between Rs 3,900 and Rs 3,950 per quintal, while S-grade sugar in Kolhapur ranges between Rs 3,570 and Rs 3,640. Agrimandi.live predicts that S-grade sugar prices in Kolhapur would range between Rs 3,500 and Rs 3,650 per quintal in the near future.
Ex-mill Sugar Prices as on Oct, 11 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3560 to 3660 |
₹3640 to 3740 |
|
South Karnataka |
Holiday |
Holiday |
|
Uttar Pradesh |
|
₹3900 to 3950 |
|
Gujarat |
₹3621 to 3671 |
₹3695 to 3795 |
|
Tamil Nadu |
Holiday |
Holiday |
|
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 $578.40 ton, whereas the New York Sugar #11 front month contract is trading at 22.64 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 84.075 whereas USD was trading with BRL at 5.5642, Crude futures traded at ₹6327, Crude WTI traded at $75.19 barrel. Sensex closed 230.05 points lower at 81381.36 whereas Nifty closed 34.20 points lower at 24964.25
News Round-Up
WTO raises 2024 goods trade forecast; but wary of risks due to geopolitical tensions
WTO raises 2024 goods trade forecast; but wary of risks due to geopolitical tensions
Mawana Sugars completes sale of equity and preference shares in Siel IE and Siel IED for Rs. 117 crore
Punjab: Farmers to hold protest against government’s crop procurement policies from October 13
Punjab: Farmers to hold protest against government’s crop procurement policies from October 13
