ChiniMandi, Mumbai: 9th Aug 2024
Domestic Market
Domestic sugar prices were low.
Domestic sugar prices remained low in the key centers due to limited demand at higher prices. Prices dropped by Rs 10 per quintal across the marketplaces. According to local sources, demand is extremely low, causing costs to rise significantly.
The price range for S-grade sugar in Muzaffarnagar was Rs 3,930-3,980 per quintal, whilst in Kolhapur it was Rs 3,640-3,680. Over the next two weeks, Agrimandi expects the price of S grade sugar in the Kolhapur market to range between Rs 3,600 and Rs 3,750 per quintal.
Ex-mill Sugar Prices as on Aug, 09 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3630 to 3670 |
₹3710 to 3750 |
|
Karnataka |
₹3800 to 3850 |
– |
|
Uttar Pradesh |
|
₹3930 to 3980 |
|
Gujarat |
₹3655 to 3686 |
₹3755 to 3786 |
|
Tamil Nadu |
₹3875 to 4025 |
₹4025 to 4125 |
|
Madhya Pradesh |
₹3730 to 3770 |
₹3820 to 3860 |
|
Punjab |
₹4000 to 4060 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Aug, 09 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,189.50 |
|
Kanpur |
M/30 |
₹4,137.00 |
|
Kolhapur |
M/30 |
₹3,916.50 |
|
Kolkata |
M/30 |
₹4,231.50 |
|
Muzaffarnagar |
M/30 |
₹4,137.00 |
|
Ahmedabad |
M/30 |
₹4,032.00 |
|
Banglore |
M/30 |
₹4,063.50 |
|
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 $527.80 ton, whereas the New York Sugar #11 front month contract is trading at 18.65 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.956 whereas USD was trading with BRL at 5.5488, Crude futures traded at ₹6428, Crude WTI traded at $76.44 barrel. Sensex closed 819.69 points higher at 79705.91 whereas Nifty closed 247.65 points higher at 24364.65.
