ChiniMandi, Mumbai: 8th Nov 2024
Domestic Market
Domestic sugar prices continue to trade weakly.
Sugar prices in Uttar Pradesh and Maharashtra’s main markets have dropped another Rs 10 per quintal. Demand is said to be dull, with buyers going hand-to-mouth once crushing activity begins. Crushing has started in Uttar Pradesh, and a few mills will start today in Karnataka and Maharashtra in the third week of the month. State assembly elections in Maharashtra are expected to postpone the crushing by 20–25 days more than normal in the current season.
M-grade sugar in Muzaffarnagar costs Rs 3,850-3,900 per quintal, whereas S-grade sugar in Kolhapur costs Rs 3,470-3,540. Agrimandi.live predicts: Prices for Kolhapur S-grade sugar are expected to rise to Rs 3,400-3,580 per quintal in the coming days.
Ex-mill Sugar Prices as on Nov, 08 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3460 to 3520 |
₹3540 to 3600 |
|
South Karnataka |
₹3660 to 3775 |
₹3660 to 3825 |
|
Uttar Pradesh |
|
₹3850 to 3900 |
|
Gujarat |
₹3581 to 3621 |
₹3641 to 3741 |
|
Tamil Nadu |
₹3760 to 3925 |
₹3925 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, 08 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,126.50 |
|
Kanpur |
M/30 |
₹4,095.00 |
|
Kolhapur |
M/30 |
₹3,780.00 |
|
Kolkata |
M/30 |
₹4,147.50 |
|
Muzaffarnagar |
M/30 |
₹4,089.75 |
|
Ahmedabad |
M/30 |
₹3,937.50 |
|
Banglore |
M/30 |
₹3,990.00 |
|
Chennai |
M/30 |
₹4,095.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $564.90 ton, whereas the New York Sugar #11 front month contract is trading at 22.28 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.374 whereas USD was trading with BRL at 5.6926, Crude futures traded at ₹6043, Crude WTI traded at $71.53 barrel. Sensex closed 55.47 points lower at 79486.32 whereas Nifty closed 51.15 points lower at 24148.20. Corn Dec ’24 (ZCZ24) was trading 429-2 c/lb. Ethanol Chicago Dec ’24 (FLZ24) was at 1.57000 $/gal.
News Round-Up
Q2 result: Bajaj Hindusthan Sugar’s loss narrows to around Rs 76 crore
Q2 result: Bajaj Hindusthan Sugar’s loss narrows to around Rs 76 crore
NTPC working on Gen-4 ethanol, green urea, and sustainable aviation fuel
NTPC working on Gen-4 ethanol, green urea, and sustainable aviation fuel
