Domestic sugar prices were steady to weak
Domestic sugar prices were reported to be stable to weak in the major markets, owing to low demand. Prices in spot markets are falling as crop conditions improve in the major growing regions. Prices fell by Rs 5 per quintal in the Uttar Pradesh and Delhi markets, while Kolhapur and Kolkata remained stable.
M-grade sugar ranges between Rs 3,820 and Rs 3,860 per quintal in Muzaffarnagar, whereas S-grade costs between Rs 3,600 and Rs 3,650 in Kolhapur. Agrimandi expects S-grade sugar prices in the Kolhapur market to range between Rs 3,600 and Rs 3,720 per quintal over the next two weeks.
Ex-mill Sugar Prices as on Sep, 03 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3575 to 3600 |
₹3650 to 3690 |
|
Karnataka |
₹3730 to 3825 |
₹3775 to 3875 |
|
Uttar Pradesh |
|
₹3820 to 3860 |
|
Gujarat |
₹3620 to 3650 |
₹3700 to 3750 |
|
Tamil Nadu |
₹3850 to 3900 |
₹3775 |
|
Madhya Pradesh |
₹3730 to 3770 |
₹3975 |
|
Punjab |
₹4000 to 4060 |
|
|
(All the above rates are excluding GST) |
||
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $548.90 ton, whereas the New York Sugar #11 front month contract is trading at 19.69 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.955 whereas USD was trading with BRL at 5.6023, Crude futures traded at ₹5991, Crude WTI traded at $71.36 barrel. Sensex closed 4.41 points lower at 82,555.44 whereas Nifty closed 1.15 points higher at 25,279.85.
