Daily Sugar Market Update By Vizzie – 04/04/2024

ChiniMandi, Mumbai: 4th April 2024

Domestic Market

Domestic sugar continue to trade stable

Domestic sugar prices in major markets were said to be stable following a mixed session yesterday. However, with a higher monthly quota, they are likely to face additional pressure in the coming days. Furthermore, demand in the major markets is expected to be weak, putting prices under pressure.

In Muzaffarnagar, M-grade sugar costs between Rs 3,770 and Rs 3,800 per quintal, whereas S-grade sugar is expected to cost between Rs 3,420 and Rs 3,450. Agrimandi expects the price of S grade sugar in the Kolhapur market to fall to between Rs 3,380 and Rs 3,460 per quintal within the next two weeks.

Ex-mill Sugar Prices as on  April, 4 2024 :

Destination-wise Spot Prices as on April, 4 2024 :

International Market

At the time of writing this update London White Sugar #5 front month contract is trading at $651.90 ton, whereas the New York Sugar #11 front month contract is trading at 22.41 c/lb.

Currency, Commodity & Indian Indices

The rupee traded against the US dollar at 83.430 whereas USD was trading with BRL at 5.0367, Crude futures traded at ₹7121, Crude WTI traded at $85.45 barrel. Sensex closed 350.81 points higher at 74227.63 whereas Nifty ended 80.00 points higher at 22514.65

News Round-Up

Thailand’s sugar production reported above February estimate

Thailand’s sugar production reported above February estimate

Over 20 sugar mills revived, five new ones set up during BJP’s Rule: Amit Shah

BSF thwarts another sugar smuggling attempt in Bangladesh

Sweltering heat grips multiple regions, maximum temperatures soar to 40 to 42°C in several areas