ChiniMandi, Mumbai: 4th January 2024
Domestic Market
Domestic sugar prices reported to be weak
Sugar prices are said to be falling in the major markets after remaining stable for the previous 4-5 sessions. Demand is said to be good at the current price levels. The ongoing crushing season, on the other hand, is weighing on spot market prices. The majority of buyers prefer hand-to-mouth transactions.
In Muzaffarnagar, M-grade sugar costs between Rs 3,780 and Rs 3,830 per quintal, while S-grade sugar costs between Rs 3,550 and Rs 3,610 per quintal. According to Agrimandi.live, S grade sugar will trade in Kolhapur markets for between Rs 3,500 and Rs 3,650 per quintal over the next two weeks.
Ex-mill Sugar Prices as on January, 04 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3510 to 3550 |
₹3590 to 3630 |
|
Karnataka |
₹3690 to 3700 |
₹3750 |
|
Uttar Pradesh |
|
₹3760 to 3870 |
|
Gujarat |
Old – ₹3581 |
Old – ₹3631 to 3641 New – ₹3701 to 3731 |
|
Tamil Nadu |
₹3750 to 3875 |
₹3810 to 3900 |
|
Madhya Pradesh |
₹3715 to 3735 |
₹3765 to 3785 |
|
Punjab |
₹3840 to 3901 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on January, 04 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,021.50 |
|
Kanpur |
M/30 |
₹3,979.50 |
|
Kolhapur |
M/30 |
₹3,853.50 |
|
Kolkata |
M/30 |
₹4,042.50 |
|
Muzaffarnagar |
M/30 |
₹3,979.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $604.60 ton, whereas the New York Sugar #11 front month contract is trading at 21.03 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.243 whereas USD was trading with BRL at 4.9115, Crude futures traded at ₹6130, Crude WTI traded at $73.47 barrel. Sensex closed 470.97 points higher at 71847.57 whereas Nifty ended 141.25 points higher at 21658.60
News Round-Up
Indian railways achieve 1154.67 MT freight loading till December, 2023
Indian railways achieve 1154.67 MT freight loading till December, 2023
National Sugar Institute’s 51st convocation to be held on January 12
National Sugar Institute’s 51st convocation to be held on January 12
Govt to link corn farmers to ethanol factories: Amit Shah
Erisha E mobility inks Rs 6,900 crore MoU with Gujarat government for green hydrogen and mega EV park
Asian Corn Market Outlook for 2024: China’s demand drives recovery and diversification
Asian Corn Market Outlook for 2024: China’s demand drives recovery and diversification
