ChiniMandi, Mumbai: 18ht Dec 2024
Domestic Market
Domestic prices remained stable.
Following a weak session, domestic sugar prices in major markets were reported to be stable. Despite the price drop, demand has remained low, with buyers remaining need-driven since the start of crushing operations.
Almost all mills are operational in Karnataka and Uttar Pradesh, and 185 mills have begun crushing operations in Maharashtra, which should help keep prices under control. Due to limited cane availability in Maharashtra, fewer mills are expected to operate this season.
S-grade sugar in Kolhapur costs Rs 3,300-3,350 per quintal, whereas M-grade sugar in Muzaffarnagar costs Rs 3,660-3,700. Agrimandi.live predicts that the price of Kolhapur S-grade sugar will fall between Rs 3,260 and Rs 3,380 per quintal in the near future.
Ex-mill Sugar Prices as on Dec, 18 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3350 to 3390 |
₹3440 to 3470 |
|
South Karnataka |
₹3420 to 3480 |
₹3500 to 3525 |
|
Uttar Pradesh |
|
₹3650 to 3700 |
|
Gujarat |
₹3411 to 3461 |
₹3481 to 3511 |
|
Tamil Nadu |
₹3590 to 3700 |
₹3650 to 3775 |
|
Madhya Pradesh |
₹3700 to 3720 |
₹3750 to 3820 |
|
Punjab |
₹3700 to 3851 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Dec, 18 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3,906.00 |
|
Kanpur |
M/30 |
₹3,869.25 |
|
Kolhapur |
M/30 |
₹3,591.00 |
|
Kolkata |
M/30 |
₹3,916.50 |
|
Muzaffarnagar |
M/30 |
₹3,864.00 |
|
Ahmedabad |
M/30 |
₹3,738.00 |
|
Bangaluru |
M/30 |
₹3,790.50 |
|
Chennai |
M/30 |
₹3,906..00 |
At the time of writing this update London White Sugar #5 front month contract is trading at $494.10 ton, whereas the New York Sugar #11 front month contract is trading at 19.73c/lb. The corn futures market trades at 430-0 and the ethanol Chicago trades at 1.62655s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 84.915 whereas USD was trading with BRL at 6.1679, Crude WTI traded at $70.14 barrel. Sensex closed 502.25 points down at 80,182.20 whereas Nifty closed 137.15 points lower at 24,198.58
News Round-Up
Season 2024-25: Sugar mills paid Rs 8,126 crore to farmers out of Rs 11,141 crore till Dec 13
Season 2024-25: Sugar mills paid Rs 8,126 crore to farmers out of Rs 11,141 crore till Dec 13
Karnataka: Govt taking steps to ensure all sugar mills pay dues to farmers on time
Karnataka: Govt taking steps to ensure all sugar mills pay dues to farmers on time
Prudential Sugar enters into MoU with Rajasthan govt to establish 100 MW Solar Park in Bikaner
Prudential Sugar enters into MoU with Rajasthan govt to establish 100 MW Solar Park in Bikaner
