ChiniMandi, Mumbai: 11th Dec 2024
Domestic Market
Weak to steady sentiment reported in domestic sugar prices
Domestic sugar prices in major markets of Maharashtra and Karnataka were continued their down trend on dull demand. Prices in Maharashtra and Karnataka fell by Rs 10 per quintal while Uttar Pradesh were reported stable. As prices have corrected drastically in Uttar Pradesh prices are said to be steady. Demand remains weak as the crushing activity going on smoothly across the states. Almost all mills are operational in Karnataka and Uttar Pradesh, and over 150 have begun crushing operations in Maharashtra, which should keep prices in check. Due to limited cane availability in Maharashtra, it is likely that fewer mills will operate this season.
S-grade sugar in Kolhapur costs Rs 3,310-3,360 per quintal, whereas M-grade sugar in Muzaffarnagar costs Rs 3,660-3,700. Agrimandi.live predicts that the price of Kolhapur S-grade sugar will range from Rs 3,300 to Rs 3,400 per quintal in the near future.
At the time of writing this update London White Sugar #5 front month contract is trading at $514.30 ton, whereas the New York Sugar #11 front month contract is trading at 20.90c/lb. The corn futures market trades at 441-4 and the ethanol Chicago trades at 1.62655s.
Ex-mill Sugar Prices as on Dec, 11 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3330 to 3370 |
₹3420 to 3450 |
|
South Karnataka |
₹3430 to 3500 |
₹3520 to 3550 |
|
Uttar Pradesh |
|
₹3650 to 3700 |
|
Gujarat |
₹3431 to 3485 |
₹3531 to 3601 |
|
Tamil Nadu |
₹3625 to 3700 |
₹3700 to 3775 |
|
Madhya Pradesh |
₹3700 to 3720 |
₹3750 to 3820 |
|
Punjab |
₹3710 to 3900 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Dec, 11 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3,906.00 |
|
Kanpur |
M/30 |
₹3,864.00 |
|
Kolhapur |
M/30 |
₹3,601.50 |
|
Kolkata |
M/30 |
₹3,916.50 |
|
Muzaffarnagar |
M/30 |
₹3,864.00 |
|
Ahmedabad |
M/30 |
₹3,748.50 |
|
Banglore |
M/30 |
₹3,801.00 |
|
Chennai |
M/30 |
₹3,916..50 |
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 84.815 whereas USD was trading with BRL at 6.0532, Crude WTI traded at $69.59 barrel. Sensex closed 16.09 points up at 81,526.14 whereas Nifty closed 31.75 points higher at 24,641.80
News Round-Up
Rajasthan: Nitin Gadkari advocates for reviving sugar beet cultivation in Sri Ganganagar to boost ethanol production
Nepal: Mills threaten to halt payments to farmers if govt fails to address illegal sugar imports
Nepal: Mills threaten to halt payments to farmers if govt fails to address illegal sugar imports
