ChiniMandi, Mumbai: 05th Sep 2024
Domestic Market
Domestic sugar prices maintained their downward trend
Domestic sugar prices were said to be low in the major markets due to slow demand. Prices in spot markets are falling as crop conditions improve in the major growing regions. Prices in Uttar Pradesh and Delhi fell by Rs 30 per quintal, while Kolhapur and Kolkata saw a Rs 10 drop.
M-grade sugar costs between Rs 3,780 and Rs 3,820 per quintal in Muzaffarnagar, whereas S-grade costs between Rs 3,585 and Rs 3,635 in Kolhapur. Agrimandi expects S-grade sugar prices in Kolhapur to fall between Rs 3,530 and Rs 3,680 per quintal in the coming days.
Ex-mill Sugar Prices as on Sep, 05 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3580 to 3610 |
₹3660 to 3690 |
|
Karnataka |
₹3730 to 3825 |
₹3775 to 3875 |
|
Uttar Pradesh |
|
₹3780 to 3820 |
|
Gujarat |
₹3610 to 3640 |
₹3690 to 3740 |
|
Tamil Nadu |
₹3850 to 4000 |
₹3975 to 4100 |
|
Madhya Pradesh |
₹3730 to 3770 |
₹3975 |
|
Punjab |
₹4000 to 4060 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Sep, 05 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,032.00 |
|
Kanpur |
M/30 |
₹3,979.50 |
|
Kolhapur |
M/30 |
₹3,864.00 |
|
Kolkata |
M/30 |
₹4,095.00 |
|
Muzaffarnagar |
M/30 |
₹3,979.50 |
|
Ahmedabad |
M/30 |
₹3,974.25 |
|
Banglore |
M/30 |
₹4,011.00 |
|
Chennai |
M/30 |
₹4,137.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $542.70 ton, whereas the New York Sugar #11 front month contract is trading at 19.47 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.988 whereas USD was trading with BRL at 5.6086, Crude futures traded at ₹5880, Crude WTI traded at $69.78 barrel. Sensex closed 151.48 points lower at 82201.16 whereas Nifty closed 53.60 points lower at 25145.10
News Round-Up
Bihar: Nirani Sugars acquires Riga sugar mill
Kerala: SupplyCo increases price of sugar as Onam approaches
Kerala: SupplyCo increases price of sugar as Onam approaches
FMCG data shows rural demand picked up: RBI Governor
