ChiniMandi, Mumbai: 19th Dec 2024
Domestic Market
Domestic prices were traded higher
Following a weak session, domestic sugar prices in major markets were reported to be higher by Rs 10-20 per quintal. Prices have recovered by Rs 10 per quintal in Maharashtra and Karnataka while reported higher by Rs 20 per quintal in Uttar Pradesh and Delhi markets. As per the sources, good demand ahead of Christmas and New Year is supporting the prices.
Almost all mills are operational in Karnataka and Uttar Pradesh, and 186 mills have begun crushing operations in Maharashtra, which should help keep prices under control in the long term. Due to limited cane availability in Maharashtra, fewer mills are expected to operate this season, during the last season 212 mills were operating.
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 fall between Rs 3,260 and Rs 3,380 per quintal in the near future.
Ex-mill Sugar Prices as on Dec, 19 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3350 to 3390 |
₹3430 to 3460 |
|
South Karnataka |
₹3420 to 3500 |
₹3500 to 3550 |
|
Uttar Pradesh |
|
₹3670 to 3720 |
|
Gujarat |
₹3411 to 3461 |
₹3481 to 3511 |
|
Tamil Nadu |
₹3600 to 3700 |
₹3660 to 3775 |
|
Madhya Pradesh |
₹3710 to 3730 |
₹3760 to 3830 |
|
Punjab |
₹3700 to 3851 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Dec, 19 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3,927.00 |
|
Kanpur |
M/30 |
₹3,885.00 |
|
Kolhapur |
M/30 |
₹3,601.50 |
|
Kolkata |
M/30 |
₹3,937.50 |
|
Muzaffarnagar |
M/30 |
₹3,885.00 |
|
Ahmedabad |
M/30 |
₹3,748.50 |
|
Bangaluru |
M/30 |
₹3,801.00 |
|
Chennai |
M/30 |
₹3,916.50 |
At the time of writing this update London White Sugar #5 front month contract is trading at $492.70 ton, whereas the New York Sugar #11 front month contract is trading at 19.54 c/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 85.341 whereas USD was trading with BRL at 6.1618, Crude WTI traded at $69.87 barrel. Sensex closed 964.15 points down at 79,218.05 whereas Nifty closed 247.15 points lower at 23,951.70
News Round-Up
Union Minister Nitin Gadkari advocates for ethanol export
Haryana: Work is ongoing to develop improved varieties of sugarcane
Haryana: Work is ongoing to develop improved varieties of sugarcane
Gulshan Polyols to receive PLI incentive of Rs 50 crore for ethanol plant in Assam
Gulshan Polyols to receive PLI incentive of Rs 50 crore for ethanol plant in Assam
