ChiniMandi, Mumbai: 12th Nov 2024
Domestic Market
Weak sentiment continued in Domestic sugar prices
The beginning of the crushing season in Uttar Pradesh and Karnataka is weighing on sugar prices, which are continuing to fall by Rs 10-20 per quintal on a daily basis. Sugar prices in Uttar Pradesh have fallen another Rs 20 per quintal, while mills in Maharashtra and Karnataka have reported a drop of Rs 10 per quintal. Crushing is likely to start from last week of November in Maharashtra due to assembly elections.
M-grade sugar in Muzaffarnagar costs Rs 3,800-3,850 per quintal, whereas S-grade sugar in Kolhapur costs Rs 3,450-3,520. Agrimandi.live predicts that the price of Kolhapur S-grade sugar will rise to Rs 3,400-3,560 per quintal in the coming days.
Ex-mill Sugar Prices as on Nov, 12 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3450 to 3510 |
₹3670 to 3750 |
|
South Karnataka |
₹3670 to 3700 |
₹3670 to 3750 |
|
Uttar Pradesh |
|
₹3800 to 3850 |
|
Gujarat |
₹3561 to 3601 |
₹3621 to 3721 |
|
Tamil Nadu |
₹3750 to 3875 |
₹3810 to 3975 |
|
Madhya Pradesh |
₹3700 to 3720 |
₹3750 to 3820 |
|
Punjab |
₹3950 to 4050 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Nov, 12 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,074.00 |
|
Kanpur |
M/30 |
₹4,042.50 |
|
Kolhapur |
M/30 |
₹3,759.00 |
|
Kolkata |
M/30 |
₹4,095.00 |
|
Muzaffarnagar |
M/30 |
₹4,037.25 |
|
Ahmedabad |
M/30 |
₹3,916.50 |
|
Banglore |
M/30 |
₹3,969.00 |
|
Chennai |
M/30 |
₹4,074.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $548.60 ton, whereas the New York Sugar #11 front month contract is trading at 21.35 c/lb. The corn futures market trades at 431-6 and the ethanol Chicago trades at 1.61750s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 84.387 whereas USD was trading with BRL at 5.7559, Crude futures traded at ₹5790, Crude WTI traded at $68.54 barrel. Sensex closed 820.97 points lower at 78675.18 whereas Nifty closed 257.85 points lower at 23883.45
News Round-Up
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Magadh Sugar & Energy Limited approves 100 KLPD greenfield multi-feed distillery at Hasanpur sugar unit
