ChiniMandi, Mumbai: 07th May 2024
Domestic Market
Domestic sugar prices continued to fall
Domestic sugar prices in the major markets were reported to be Rs 10 per quintal lower for the second session, following a sharp increase the week before. Demand is said to be dull at higher price points. Prices rose sharply the previous week, following news of an increase in sugar MSP.
In Muzaffarnagar, M-grade sugar costs between Rs 3,920 and Rs 3,950 per quintal, while S-grade sugar costs between Rs 3,600 and Rs 3,630. Agrimandi predicts that the price of S grade sugar in the Kolhapur market will fall to between Rs 3,520 and Rs 3,660 per quintal within the next two weeks.
Ex-mill Sugar Prices as on May, 07 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3600 to 3650 |
₹3680 to 3730 |
|
Karnataka |
₹3900 |
– |
|
Uttar Pradesh |
|
₹3920 to 3940 |
|
Gujarat |
Holiday |
Holiday |
|
Tamil Nadu |
₹3875 to 4000 |
₹3950 to 4050 |
|
Madhya Pradesh |
₹3750 to 3820 |
₹3760 to 3860 |
|
Punjab |
₹4040 to 4120 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on May, 07 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,168.50 |
|
Kanpur |
M/30 |
₹4,126.50 |
|
Kolhapur |
M/30 |
₹3,906.00 |
|
Kolkata |
M/30 |
₹4,189.50 |
|
Muzaffarnagar |
M/30 |
₹4,126.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $571.30 ton, whereas the New York Sugar #11 front month contract is trading at 19.55 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.500 whereas USD was trading with BRL at 5.0763, Crude futures traded at ₹6537, Crude WTI traded at $78.27 barrel. Sensex closed 383.69 points lower at 73511.85 whereas Nifty ended 140.20 points lower at 22302.50
News Round-Up
Uttar Pradesh: Mohiuddinpur sugar mill achieves record sugar production
Uttar Pradesh: Mohiuddinpur sugar mill achieves record sugar production
US energy firm Hartree is in discussions to buy commodities trader ED&F Man: Media report
US energy firm Hartree is in discussions to buy commodities trader ED&F Man: Media report
Kazakhstan imposes ban on sugar exports
