ChiniMandi, Mumbai: 8th Oct 2024
Domestic Market
Domestic sugar prices reported stable
Following a weak session, domestic sugar prices were reported to be stable across markets due to low demand. Demand is said to be dull, with buyers living hand-to-mouth. Furthermore, crushing is expected to begin in Karnataka in mid-October, putting downward pressure on prices.
M-grade sugar in Muzaffarnagar ranges from Rs 3,920 to Rs 3,970 per quintal, while S-grade sugar in Kolhapur costs between Rs 3,580 and Rs 3,650. Agrimandi.live forecasts that S-grade sugar prices in Kolhapur will fall between Rs 3,500 and Rs 3,650 per quintal in the coming days.
Ex-mill Sugar Prices as on Oct, 8 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3570 to 3610 |
₹3650 to 3690 |
|
Karnataka |
₹3710 to 3800 |
₹3760 to 3850 |
|
Uttar Pradesh |
|
₹3920 to 3970 |
|
Gujarat |
₹3651 to 3701 |
₹3725 to 3821 |
|
Tamil Nadu |
₹3850 to 4000 |
₹3950 to 4100 |
|
Madhya Pradesh |
₹3700 to 3720 |
₹3750 to 3820 |
|
Punjab |
₹3950 to 4040 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Oct, 8 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,200.00 |
|
Kanpur |
M/30 |
₹4,158.00 |
|
Kolhapur |
M/30 |
₹3,895.50 |
|
Kolkata |
M/30 |
₹4,242.00 |
|
Muzaffarnagar |
M/30 |
₹4,158.00 |
|
Ahmedabad |
M/30 |
₹4,042.50 |
|
Banglore |
M/30 |
₹4,084.50 |
|
Chennai |
M/30 |
₹4,200.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $573.20 ton, whereas the New York Sugar #11 front month contract is trading at 22.47 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.967 whereas USD was trading with BRL at 5.5090, Crude futures traded at ₹6347, Crude WTI traded at $75.48 barrel. Sensex closed 584.81 points higher at 81634.81 whereas Nifty closed 217.40 points higher at 25013.15
News Round-Up
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