ChiniMandi, Mumbai: 6th Nov 2024
Domestic Market
Domestic sugar prices traded weakly.
Sugar prices in Uttar Pradesh and Maharashtra’s main markets have fallen by Rs 10 per quintal. Demand is said to be dull, with buyers going hand-to-mouth as crushing activity begins. Cruising has begun in Uttar Pradesh, and it is expected to begin in Karnataka on November 8th and in Maharashtra during the third week of the month. State assembly elections in Maharashtra are expected to postpone the crushing.
M-grade sugar in Muzaffarnagar costs Rs. 3,870-3,920 per quintal, whereas S-grade sugar in Kolhapur costs Rs 3,500-3,570. Agrimandi.live predicts Kolhapur S-grade sugar prices will rise to Rs 3,460-3,600 per quintal in the coming days.
Ex-mill Sugar Prices as on Nov, 06 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3470 to 3520 |
₹3550 to 3600 |
|
South Karnataka |
₹3640 to 3775 |
₹3660 to 3825 |
|
Uttar Pradesh |
|
₹3870 to 3920 |
|
Gujarat |
₹3581 to 3621 |
₹3641 to 3741 |
|
Tamil Nadu |
₹3760 to 3925 |
₹3820 to 4025 |
|
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 Nov, 06 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,147.50 |
|
Kanpur |
M/30 |
₹4,116.00 |
|
Kolhapur |
M/30 |
₹3,801.00 |
|
Kolkata |
M/30 |
₹4,168.50 |
|
Muzaffarnagar |
M/30 |
₹4,110.75 |
|
Ahmedabad |
M/30 |
₹3,958.50 |
|
Banglore |
M/30 |
₹4,011.00 |
|
Chennai |
M/30 |
₹4,116.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $552.40 ton, whereas the New York Sugar #11 front month contract is trading at 21.65 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 84.336 whereas USD was trading with BRL at 5.8184, Crude futures traded at ₹5963, Crude WTI traded at $70.64 barrel. Sensex closed 901.50 points higher at 80378.13 whereas Nifty closed 270.75 points higher at 24484.05
News Round-Up
Uttam Sugar Mills commissions increased cane crushing capacity at Khaikheri Unit
Uttam Sugar Mills commissions increased cane crushing capacity at Khaikheri Unit
Cabinet approves infusion of equity of Rs.10,700 crore in Food Corporation of India by way of conversion of Ways and Means Advance to equity in 2024-25
Sugar industry heading toward critical financial challenge; urgent government support needed: NFCSF
Sugar industry heading toward critical financial challenge; urgent government support needed: NFCSF
