ChiniMandi, Mumbai: 2nd April 2024
Domestic Market
Domestic sugar were reported firm
Domestic sugar prices in major markets were reported to be firm with prices inching higher by Rs 10-15 per quintal in the major markets of Uttar Pradesh and Maharashtra. Furthermore, demand is said to be stronger as trading resumed after a financial year closure.
In Muzaffarnagar, M-grade sugar range between Rs 3,760 and Rs 3,800 per quintal, while S-grade sugar is ranges between Rs 3,430 and Rs 3,470. Agrimandi expects the price of S grade sugar in the Kolhapur market to fall to between Rs 3,400 and Rs 3,480 per quintal within the next two weeks.
Ex-mill Sugar Prices as on April, 2 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3440 to 3470 |
₹3520 to 3550 |
|
Karnataka |
₹3620 to 3630 |
₹3675 |
|
Uttar Pradesh |
|
₹3760 to 3790 |
|
Gujarat |
₹3461 to 3491 |
₹3511 to 3551 |
|
Tamil Nadu |
₹3600 to 3800 |
₹3660 to 3850 |
|
Madhya Pradesh |
₹3600 to 3610 |
₹3650 to 3660 |
|
Punjab |
₹3825 to 3860 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on April, 2 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,005.75 |
|
Kanpur |
M/30 |
₹3,958.50 |
|
Kolhapur |
M/30 |
₹3,738.00 |
|
Kolkata |
M/30 |
₹3,979.50 |
|
Muzaffarnagar |
M/30 |
₹3,953.25 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $660.10 ton, whereas the New York Sugar #11 front month contract is trading at 22.85 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.410 whereas USD was trading with BRL at 5.0551, Crude futures traded at ₹7078, Crude WTI traded at $84.92 barrel. Sensex closed 110.64 points lower at 73903.91 whereas Nifty ended 8.70 points lower at 22453.30
News Round-Up
Season 2023-24: Latest sugar production updates by ISMA till March 31
Season 2023-24: Latest sugar production updates by ISMA till March 31
Sugar production in India reaches around 300 lakh tonnes
Sugar MSP should be increased to Rs 45 per kg: Sanjay Khatal
Sugar MSP should be increased to Rs 45 per kg: Sanjay Khatal
