ChiniMandi, Mumbai: 6th Dec 2024
Domestic Market
Domestic sugar prices were stable.
After a drastic fall, domestic sugar prices in major markets were reported to be stable. Prices have fallen by Rs 200-250 per quintal from the recent peak due to dull demand amidst the start of crushing activity.
Despite the price fall, 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 143 have begun crushing operations in Maharashtra, which should keep prices in check. In Maharashtra, due to lesser cane availability, a lesser number of mills are likely to operate this season.
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, 06 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3330 to 3370 |
₹3420 to 3450 |
|
South Karnataka |
₹3480 to 3550 |
₹3540 to 3600 |
|
Uttar Pradesh |
|
₹3650 to 3710 |
|
Gujarat |
₹3431 to 3485 |
₹3531 to 3601 |
|
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, 06 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 $520.20 ton, whereas the New York Sugar #11 front month contract is trading at 21.19c/lb. The corn futures market trades at 427-4 and the ethanol Chicago trades at 1.62655s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 84.684 whereas USD was trading with BRL at 5.9843, Crude WTI traded at $67.59 barrel. Sensex closed 56.74 points down at 81,709.12 whereas Nifty closed 30.60 points lower at 24,677.80
News Round-Up
Industry body and Honda meet to discuss ethanol production; GEMA pushes for flex-fuel vehicles
Industry body and Honda meet to discuss ethanol production; GEMA pushes for flex-fuel vehicles
Maharashtra: 143 mills begin crushing operations, sugar production exceeds 8 lakh tonnes
Maharashtra: 143 mills begin crushing operations, sugar production exceeds 8 lakh tonnes
