ChiniMandi, Mumbai: 1st Aug 2024
Domestic Market
Sugar prices were stable in domestic markets.
Major markets’ domestic sugar prices were said to be steady. Demand is said to be average at higher price points. Over the past week, prices in Uttar Pradesh and Maharashtra have increased by Rs 150–180 and Rs 100–120 per quintal, respectively, as a result of lower monthly quotas.
In Kolhapur, the price range for S-grade sugar was Rs 3,670 to 3,710 per quintal, while in Muzaffarnagar, the price range for M-grade sugar was Rs 3,970 to 4,020. Agrimandi forecasts that the price of S grade sugar in the Kolhapur market will be between Rs 3,600 and Rs 3,750 per quintal during the next two weeks.
Ex-mill Sugar Prices as on Aug, 01 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3640 to 3680 |
₹3720 to 3760 |
|
Karnataka |
₹3875 |
– |
|
Uttar Pradesh |
|
₹3970 to 4020 |
|
Gujarat |
₹3675 to 3706 |
₹3775 to 3806 |
|
Tamil Nadu |
₹3900 to 3925 |
₹4025 |
|
Madhya Pradesh |
₹3670 to 3685 |
₹3745 to 3785 |
|
Punjab |
₹3840 to 3920 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Aug, 01 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,242.00 |
|
Kanpur |
M/30 |
₹4,189.50 |
|
Kolhapur |
M/30 |
₹3,948.00 |
|
Kolkata |
M/30 |
₹4,284.00 |
|
Muzaffarnagar |
M/30 |
₹4,189.50 |
|
Ahmedabad |
M/30 |
₹4,063.50 |
|
Banglore |
M/30 |
₹4,084.50 |
|
Chennai |
M/30 |
₹4,221.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $537.70 ton, whereas the New York Sugar #11 front month contract is trading at 19.15 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.741 whereas USD was trading with BRL at 5.6580, Crude futures traded at ₹6573, Crude WTI traded at $78.45 barrel. Sensex closed 126.21 points higher at 81867.55 whereas Nifty closed 52.85 points higher at 25004.00
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