ChiniMandi, Mumbai: 19th Nov 2024
Domestic sugar prices were stable
Domestic sugar prices in the major markets were reported to be stable after falling sharply in the previous 10-12 sessions. Furthermore, as crushing begins, prices continue to drop. Furthermore, there has been no update on ethanol prices or sugar MSP, with sources stating that the decision will be made after the Maharashtra assembly elections. Elections are scheduled for tomorrow in Maharashtra, which has resulted in dull trading activity over the last three to four sessions.
Demand is said to be dull, with buyers preferring hand-to-mouth, and the government has not announced an increase in sugar MSP, putting pressure on prices over the last two weeks.
S-grade sugar in Kolhapur costs Rs 3,410-3,480 per quintal, while M-grade sugar in Muzaffarnagar costs Rs 3,750-3,800. According to Agrimandi.live, Kolhapur S-grade sugar will cost between Rs 3,400 and Rs 3,520 per quintal in the near future.
Ex-mill Sugar Prices as on Nov, 19 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3440 to 3480 |
₹3500 to 3550 |
|
South Karnataka |
₹3570 to 3660 |
₹3640 to 3725 |
|
Uttar Pradesh |
|
₹3790 to 3840 |
|
Gujarat |
₹3555 to 3571 |
₹3571 to 3661 |
|
Tamil Nadu |
₹3700 to 3850 |
₹3760 to 3950 |
|
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, 19 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,021.50 |
|
Kanpur |
M/30 |
₹3,984.75 |
|
Kolhapur |
M/30 |
₹3,717.00 |
|
Kolkata |
M/30 |
₹4,032.00 |
|
Muzaffarnagar |
M/30 |
₹3,979.50 |
|
Ahmedabad |
M/30 |
₹3,874.50 |
|
Banglore |
M/30 |
₹3,927.00 |
|
Chennai |
M/30 |
₹4,032.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $573.10 ton, whereas the New York Sugar #11 front month contract is trading at 22.14 c/lb. The corn futures market trades at 430-2 +1-0 and the ethanol Chicago trades at 1.65000s.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 84.417 whereas USD was trading with BRL at 5.7894, Crude WTI traded at $69.18.44 barrel. Sensex closed 239.37 points up at 77578.38 whereas Nifty closed 64.70 points higher at 23518.50.
