ChiniMandi, Mumbai: 21th Nov 2024
Domestic Market
Domestic sugar prices remained stable
Domestic sugar prices in the major markets were reported to be stable for the third consecutive session after falling sharply since the beginning of the month. Trading activity was reported to be slow, and demand was said to be low, with buyers preferring to resell.
Furthermore, there has been no update on ethanol prices or sugar MSP, with sources stating that a decision will be made after the Maharashtra assembly elections. As the Maharashtra assembly elections have concluded, we can expect the millers to begin crushing next week, and any update on sugar MSP and ethanol prices will come by end of the month.
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, 21 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3445 to 3505 |
₹3665 to 3745 |
|
South Karnataka |
₹3570 to 3660 |
₹3630 to 3710 |
|
Uttar Pradesh |
|
₹3790 to 3840 |
|
Gujarat |
₹3535 to 3561 |
₹3571 to 3651 |
|
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, 21 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 |
₹3,979.00 |
|
Ahmedabad |
M/30 |
₹3,874.50 |
|
Bangalore |
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 $552.40 ton, whereas the New York Sugar #11 front month contract is trading at 21.42 c/lb. The corn futures market trades at 430-0 and the ethanol Chicago trades at 1.63500s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 84.472 whereas USD was trading with BRL at 5.8185, Crude WTI traded at $70.20 barrel. Sensex closed 422.59 points lower at 77155.79 whereas Nifty closed 168.60 points lower at 23349.90
