ChiniMandi, Mumbai: 13th Nov 2024
Domestic Market
After a sharp fall domestic sugar prices were reported stable
After a continuous fall prices are traded stable in today’s session as sellers were reluctant to sell at lower rates. Start of crushing season continued to weigh on the prices in the major domestic markets. Crushing is likely to start from last week of November in Maharashtra due to assembly elections.
M-grade sugar in Muzaffarnagar range’s between Rs 3,800-3,850 per quintal, whereas S-grade sugar in Kolhapur trades in the range of 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, 13 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3445 to 3505 |
₹3665 to 3745 |
|
South Karnataka |
₹3600 to 3700 |
₹3650 to 3750 |
|
Uttar Pradesh |
|
₹3800 to 3850 |
|
Gujarat |
₹3561 to 3601 |
₹3621 to 3721 |
|
Tamil Nadu |
₹3725 to 3875 |
₹3785 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, 13 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 $538.00 ton, whereas the New York Sugar #11 front month contract is trading at 21.38 c/lb. The corn futures market trades at 428-2 and the ethanol Chicago trades at 1.62750s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 84.389 whereas USD was trading with BRL at 5.7447, Crude futures traded at ₹5790, Crude WTI traded at $68.26 barrel. Sensex closed 984.23 points lower at 77690.95 whereas Nifty closed 281.10 points lower at 23602.35
News Round-Up
Q2FY25 financial results: Zuari Industries Limited’s sugar sales up by 10.5 per cent compared to Q1FY25
Avadh Sugar & Energy to increase sugarcane crushing capacity at Rosa Unit
Avadh Sugar & Energy to increase sugarcane crushing capacity at Rosa Unit
Hardeep Singh Puri urged to waive penalties of Rs 110 crore for shortfall in grain ethanol supply by DEPs in ESY 2023-24
