ChiniMandi, Mumbai: 5th Dec 2024
Domestic Market
Weak sentiment continued in domestic sugar prices.
Domestic sugar prices in major markets remained low as most mills began crushing activity across the states. Prices have fallen by Rs 10 per quintal across the major markets on dull demand. Demand is said to be weak, with buyers remaining need-based since crushing activity began across the states. Almost all mills are operational in Karnataka and Uttar Pradesh, and over 140 have begun crushing operations in Maharashtra, which should keep prices in check.
S-grade sugar in Kolhapur costs Rs 3,340-3,390 per quintal, whereas M-grade sugar in Muzaffarnagar costs Rs 3,660-3,700. According to Agrimandi.live, Kolhapur S-grade sugar will be priced between Rs 3,320 and Rs 3,450 per quintal in the near future.
Ex-mill Sugar Prices as on Dec, 05 2024 :
| State | S/30
[Rates per Quintal] |
M/30
[Rates per Quintal] |
| Maharashtra | ₹3340 to 3400 | ₹3400 to 3450 |
| South Karnataka | ₹3480 to 3550 | ₹3540 to 3600 |
| Uttar Pradesh | ₹3650 to 3710 | |
| Gujarat | ₹3451 to 3505 | ₹3551 to 3621 |
| Tamil Nadu | ₹3625 to 3750 | ₹3685 to 3825 |
| Madhya Pradesh | ₹3700 to 3720 | ₹3750 to 3820 |
| Punjab | ₹3950 to 4050 | |
| (All the above rates are excluding GST) | ||
Destination-wise Spot Prices as on Dec, 05 2024 :
| City | Grade | Rate |
| Delhi | M/30 | ₹3,906.00 |
| Kanpur | M/30 | ₹3,864.00 |
| Kolhapur | M/30 | ₹3,633.00 |
| Kolkata | M/30 | ₹3,916.50 |
| Muzaffarnagar | M/30 | ₹3,864.00 |
| Ahmedabad | M/30 | ₹3,769.50 |
| Banglore | M/30 | ₹3,822.00 |
| Chennai | M/30 | ₹3,937.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $517.00 ton, whereas the New York Sugar #11 front month contract is trading at 20.92c/lb. The corn futures market trades at 421-4 and the ethanol Chicago trades at 1.62655s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 84.702 whereas USD was trading with BRL at 6.0575, Crude WTI traded at $68.05 barrel. Sensex closed 809.53 points up at 81,765.86 whereas Nifty closed 240.95 points higher at 24,708.40
News Round-Up
Govt seeks suggestions for ‘Roadmap for Ethanol Blending Beyond 2025’; ethanol body urges focus on sustaining industrial investment
Chhattisgarh: 27 industrial groups receive ‘Invitation to Invest’ letters; investments in ethanol, CBG, and other sectors expected
