ChiniMandi, Mumbai: 26th Nov 2024
Domestic Market
Domestic sugar prices continued to show signs of weakness.
Domestic sugar prices in the major markets are showing signs of weakness. Trading activity was reported to be slow, and demand was said to be low, with buyers preferring low rates.
S-grade sugar in Kolhapur costs Rs 3,370-3,450 per quintal, while M-grade sugar in Muzaffarnagar costs Rs 3,700-3,750. According to Agrimandi.live, Kolhapur S-grade sugar will cost between Rs 3,350 and Rs 3,450 per quintal in the near future.
In an announcement on November 26, the Food Ministry allocated a monthly sugar quota of 22 lakh metric tonnes (LMT) for December 2024, which is lower than the quantity allocated in December 2023 (24 LMT). According to market experts, the government is taking steps to ensure stable sugar prices, but due to the new sugar season, sugar prices are expected to trade on the lower side.
Ex-mill Sugar Prices as on Nov, 26 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3400 to 3460 |
₹3500 to 3540 |
|
South Karnataka |
₹3530 to 3610 |
₹3620 to 3650 |
|
Uttar Pradesh |
|
₹3700 to 3750 |
|
Gujarat |
₹3500 to 3550 |
₹3530 to 3661 |
|
Tamil Nadu |
₹3730 to 3825 |
₹3875 to 3925 |
|
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, 26 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3,969.00 |
|
Kanpur |
M/30 |
₹3,927.00 |
|
Kolhapur |
M/30 |
₹3,696.00 |
|
Kolkata |
M/30 |
₹3,979.50 |
|
Muzaffarnagar |
M/30 |
₹3,927.00 |
|
Ahmedabad |
M/30 |
₹3,843.00 |
|
Banglore |
M/30 |
₹3,895.50 |
|
Chennai |
M/30 |
₹4,000.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $552.80 ton, whereas the New York Sugar #11 front month contract is trading at 21.44 c/lb. The corn futures market trades at 423-2 and the ethanol Chicago trades at 1.62000s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 84.295 whereas USD was trading with BRL at 5.7953, Crude WTI traded at $69.19 barrel. Sensex closed 105.79 points down at 80,004.06 whereas Nifty closed 27.40 points lower at 24,194.50.
