ChiniMandi, Mumbai: 13th Dec 2024
Domestic Market
Domestic prices in Uttar Pradesh continued to trade higher.
After a drastic fall, domestic sugar prices in major markets were reported to be stable to higher, with prices in Uttar Pradesh reported higher for the second session. As prices have fallen drastically, Uttar Pradesh prices are inching higher.
Demand remains weak despite the price fall, with buyers remaining need-based since the start of crushing activity across the states. Almost all mills are operational in Karnataka and Uttar Pradesh, and 182 mills have begun crushing operations in Maharashtra, which should keep prices in check. Due to limited cane availability in Maharashtra, it is likely that fewer mills will operate this season.
S-grade sugar in Kolhapur costs Rs 3,310-3,360 per quintal, whereas M-grade sugar in Muzaffarnagar costs Rs 3,680-3,720. Agrimandi.live predicts that the price of Kolhapur S-grade sugar will range from Rs 3,320 to Rs 3,450 per quintal in the near future.
At the time of writing this update London White Sugar #5 front month contract is trading at $511.50 ton, whereas the New York Sugar #11 front month contract is trading at 20.77c/lb. The corn futures market trades at 431-6 and the ethanol Chicago trades at 1.62655s
Ex-mill Sugar Prices as on Dec, 13 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3330 to 3370 |
₹3420 to 3450 |
|
South Karnataka |
₹3430 to 3500 |
₹3500 to 3550 |
|
Uttar Pradesh |
|
₹3660 to 3710 |
|
Gujarat |
₹3411 to 3461 |
₹3481 to 3511 |
|
Tamil Nadu |
₹3625 to 3700 |
₹3700 to 3775 |
|
Madhya Pradesh |
₹3700 to 3720 |
₹3750 to 3820 |
|
Punjab |
₹3710 to 3900 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Dec, 13 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3,927.00 |
|
Kanpur |
M/30 |
₹3,890.25 |
|
Kolhapur |
M/30 |
₹3,601.50 |
|
Kolkata |
M/30 |
₹3,937.50 |
|
Muzaffarnagar |
M/30 |
₹3,885.00 |
|
Ahmedabad |
M/30 |
₹3,748.50 |
|
Bengaluru |
M/30 |
₹3,801.00 |
|
Chennai |
M/30 |
₹3,916..50 |
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 84.801 whereas USD was trading with BRL at 5.9402, Crude WTI traded at $70.58 barrel. Sensex closed 843.16 points up at 82,133.12 whereas Nifty closed 219.60 points higher at 24,768.30
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