ChiniMandi, Mumbai: 11th January 2024
Domestic Market
Domestic sugar prices reported to be stable
Sugar prices in the major markets were reported to be stable after a weak session, with dull demand weighing on spot market prices. The ongoing crushing season is also putting pressure on spot market prices, which is expected to worsen in the coming days.
M-grade sugar ranged between Rs 3,770 and Rs 3,840 per quintal in Muzaffarnagar, while S-grade sugar ranged between Rs 3,520 and Rs 3,580 per quintal in Kolhapur. S grade sugar in Kolhapur markets is expected to trade between Rs 3,500 and Rs 3,620 per quintal over the next two weeks, according to Agrimandi.live.
Ex-mill Sugar Prices as on January, 11 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3510 to 3550 |
₹3590 to 3630 |
|
Karnataka |
₹3680 to 3700 |
₹3740 to 3750 |
|
Uttar Pradesh |
|
₹3760 to 3870 |
|
Gujarat |
Old – ₹3621 to 3661 |
Old – ₹3591 to 3631 New – ₹3691 to 3721 |
|
Tamil Nadu |
₹3725 to 3875 |
₹3785 to 3900 |
|
Madhya Pradesh |
₹3715 to 3735 |
₹3765 to 3785 |
|
Punjab |
₹3880 to 3920 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on January, 11 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,032.00 |
|
Kanpur |
M/30 |
₹3,990.00 |
|
Kolhapur |
M/30 |
₹3,832.50 |
|
Kolkata |
M/30 |
₹4,042.50 |
|
Muzaffarnagar |
M/30 |
₹3,990.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $618.60 ton, whereas the New York Sugar #11 front month contract is trading at 21.59 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.043 whereas USD was trading with BRL at 4.8756, Crude futures traded at ₹6046, Crude WTI traded at $72.76 barrel. Sensex closed 63.47 points higher at 71721.18 whereas Nifty ended 28.50 points higher at 21647.20
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