ChiniMandi, Mumbai: 9th July 2024
Domestic Market
Sugar prices continue to trade stable to lower
Domestic sugar prices fell by another Rs10 per quintal in Uttar Pradesh while reported steady in Kolhapur. Pressure to sell sugar before Kawad Yatra is weighing on prices in the major markets of Uttar Pradesh. Furthermore, favorable rainfall activity was reported, which would cap rise in sugar prices as crop conditions improved in South India and Maharashtra.
The price range for S-grade sugar in Kolhapur is Rs 3,540-3,570 per quintal, while M-grade sugar in Muzaffarnagar is Rs 3,760-3,780. Agrimandi predicts that the price of S grade sugar in the Kolhapur market will fall in the next two weeks to a range of Rs 3,520 to Rs 3,620 per quintal.
Ex-mill Sugar Prices as on July, 09 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3550 to 3590 |
₹3630 to 3670 |
|
Karnataka |
₹3740 to 3750 |
– |
|
Uttar Pradesh |
|
₹3760 to 3780 |
|
Gujarat |
₹3570 to 3691 |
₹3660 to 3691 |
|
Tamil Nadu |
₹3790 to 3900 |
₹3850 to 4000 |
|
Madhya Pradesh |
₹3710 to 3730 |
₹3780 to 3830 |
|
Punjab |
₹3920 to 3980 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on July, 09 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,000.50 |
|
Kanpur |
M/30 |
₹3,958.50 |
|
Kolhapur |
M/30 |
₹3,832.50 |
|
Kolkata |
M/30 |
₹4,032.00 |
|
Muzaffarnagar |
M/30 |
₹3,958.50 |
|
Ahmedabad |
M/30 |
₹3,921.75 |
|
Banglore |
M/30 |
₹3,900.75 |
|
Chennai |
M/30 |
₹4,026.75 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $557.00 ton, whereas the New York Sugar #11 front month contract is trading at 19.94 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.497 whereas USD was trading with BRL at 5.4707, Crude futures traded at ₹6845, Crude WTI traded at $81.92 barrel. Sensex closed 391.26 points higher at 80351.64 whereas Nifty closed 101.20 points higher at 24421.75
News Round-Up
Evaluation of the policy of keeping minimum areal distance between two sugar factories!
Evaluation of the policy of keeping minimum areal distance between two sugar factories!
Karnataka CM asks Finance Department to examine appeal for Mysugar’s power bill dues waiver: Report
Karnataka CM asks Finance Department to examine appeal for Mysugar’s power bill dues waiver: Report
