ChiniMandi, Mumbai: 11th March 2024
Domestic Market
Domestic sugar prices recovered
Domestic sugar prices are reported to be firm in the major markets as more mills closed. Prices have risen by Rs 15-20 per quintal in Uttar Pradesh and Maharashtra. At current prices, demand is said to be high.
M-grade sugar in Muzaffarnagar costs between Rs 3,750 and Rs 3,790 per quintal, while S-grade sugar in Kolhapur is estimated to cost between Rs 3,420 and Rs 3,460. Agrimandi predicts that the price of S grade sugar in the Kolhapur market will fall to between Rs 3,400 and Rs 3,480 per quintal within the next two weeks. However, prices per quintal are said to range between Rs 3,330 and Rs 3,380 in Solapur.
Ex-mill Sugar Prices as on March, 11 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3380 to 3430 |
₹3460 to 3510 |
|
Karnataka |
₹3550 |
₹3600 |
|
Uttar Pradesh |
|
₹3760 to 3800 |
|
Gujarat |
₹3441 to 3481 |
₹3491 to 3541 |
|
Tamil Nadu |
₹3535 to 3720 |
₹3620 to 3650 |
|
Madhya Pradesh |
₹3700 to 3720 |
₹3750 to 3770 |
|
Punjab |
₹3825 to 3880 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on March, 11 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,011.00 |
|
Kanpur |
M/30 |
₹3,958.50 |
|
Kolhapur |
M/30 |
₹3,743.25 |
|
Kolkata |
M/30 |
₹3,995.25 |
|
Muzaffarnagar |
M/30 |
₹3,953.25 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $608.60 ton, whereas the New York Sugar #11 front month contract is trading at 21.52 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 82.741 whereas USD was trading with BRL at 4.9921, Crude futures traded at ₹6429, Crude WTI traded at $77.69 barrel. Sensex closed 616.75 points lower at 73502.64 whereas Nifty ended 160.90 points lower at 22332.65.
News Round-Up
Maharashtra: 33 mills end sugarcane crushing operations; sugar production at 97.78 lakh tonnes
Maharashtra: 33 mills end sugarcane crushing operations; sugar production at 97.78 lakh tonnes
Nepal: Sugarcane shortage cripples sugar mills in Rautahat and Sarlahi
Nepal: Sugarcane shortage cripples sugar mills in Rautahat and Sarlahi
Biofuels boost: A comprehensive analysis of Bihar Biofuels Production Promotion Policy, 2023
Biofuels boost: A comprehensive analysis of Bihar Biofuels Production Promotion Policy, 2023
