ChiniMandi, Mumbai: 30th Nov 2024
Domestic Market
Domestic sugar prices remained stable
After a sharp drop, domestic sugar prices in the major markets were reported to be stable for the third session. Demand is said to be dull as buyers remain after crushing activity began across the states. Almost all mills are operational in Karnataka and Uttar Pradesh, and approximately 100 have begun crushing activity in Maharashtra, which should keep prices in check.
S-grade sugar in Kolhapur costs Rs 3,400-3,440 per quintal, whereas M-grade sugar in Muzaffarnagar costs Rs 3,700-3,740. According to Agrimandi.live, Kolhapur S-grade sugar will be priced between Rs 3,360 and Rs 3,480 per quintal in the near future.
Ex-mill Sugar Prices as on Nov, 30 2024 :
| State | S/30
[Rates per Quintal] |
M/30
[Rates per Quintal] |
| Maharashtra | ₹3370 to 3420 | ₹3450 to 3500 |
| South Karnataka | ₹3530 to 3610 | ₹3560 to 3660 |
| Uttar Pradesh | ₹3700 to 3740 | |
| Gujarat | ₹3470 to 3520 | ₹3500 to 3631 |
| Tamil Nadu | ₹3650 to 3825 | ₹3710 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, 30 2024 :
| City | Grade | Rate |
| Delhi | M/30 | ₹3,948.00 |
| Kanpur | M/30 | ₹3,906.00 |
| Kolhapur | M/30 | ₹3,690.75 |
| Kolkata | M/30 | ₹3,958.50 |
| Muzaffarnagar | M/30 | ₹3,906.00 |
| Ahmedabad | M/30 | ₹3,832.50 |
| Banglore | M/30 | ₹3,885.00 |
| Chennai | M/30 | ₹3,990.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $520.80 ton, whereas the New York Sugar #11 front month contract is trading at 21.08c/lb. The corn futures market trades at 423-0 and the ethanol Chicago trades at 1.62655s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 84.559 whereas USD was trading with BRL at 6.0529, Crude WTI traded at $68.00 barrel. Sensex closed 759.05 points up at 79,802.79 whereas Nifty closed 216.95 points higher at 24,131.10
News Round-Up
Ethanol supplies drop in November due to feedstock shortage: GEMA
Ethanol supplies drop in November due to feedstock shortage: GEMA
Kenya Sugar Board CEO Jude Chesire elected Vice-Chairman of International Sugar Organization
Kenya Sugar Board CEO Jude Chesire elected Vice-Chairman of International Sugar Organization
