ChiniMandi, Mumbai: 5th January 2024
Domestic Market
Domestic sugar prices reported to be stable to firm
Sugar prices in the major markets were reported to be stable to weak. Prices in Kolhapur were reported to be stable, while prices in Mumbai were reported to be up by Rs 20 per quintal. At the current price levels, demand is said to be strong. On the other hand, the ongoing crushing season is weighing on spot market prices. The vast majority of buyers prefer face-to-face transactions.
M-grade sugar costs between Rs 3,780 and Rs 3,840 per quintal in Muzaffarnagar, while S-grade sugar costs between Rs 3,550 and Rs 3,610 per quintal. S grade sugar, according to Agrimandi, 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, 05 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 |
₹3700 to 3735 |
₹3750 to 3785 |
|
Punjab |
₹3880 to 3901 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on January, 05 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,042.50 |
|
Kanpur |
M/30 |
₹4,000.50 |
|
Kolhapur |
M/30 |
₹3,853.50 |
|
Kolkata |
M/30 |
₹4,053.00 |
|
Muzaffarnagar |
M/30 |
₹4,000.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $601.50 ton, whereas the New York Sugar #11 front month contract is trading at 21.01 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.105 whereas USD was trading with BRL at4.8715, Crude futures traded at ₹6116, Crude WTI traded at $73.47 barrel. Sensex closed 178.58 points higher at 72026.15 whereas Nifty ended 52.20 points higher at 21710.80
