ChiniMandi, Mumbai: 12th April 2024
Domestic Market
Domestic sugar prices continued to trade stable
Domestic sugar prices in the major markets remained stable for the second session. Following a recent price increase, demand is said to be low, keeping prices stable. Furthermore, mill closures are likely to keep prices stable. However, cyclonic rains are expected in the coming week, which could help crop development of the standing crop.
In Muzaffarnagar, M-grade sugar costs between Rs 3,780 and Rs 3,810 per quintal, whereas S-grade sugar is expected to cost between Rs 3,440 and Rs 3,480. Agrimandi expects the price of S grade sugar in the Kolhapur market to fall to between Rs 3,440 and Rs 3,500 per quintal within the next two weeks.
Ex-mill Sugar Prices as on April, 12 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3470 to 3500 |
₹3550 to 3650 |
|
Karnataka |
₹3700 |
– |
|
Uttar Pradesh |
|
₹3780 to 3810 |
|
Gujarat |
₹3525 to 3550 |
₹3625 to 3660 |
|
Tamil Nadu |
₹3725 to 3850 |
₹3790 |
|
Madhya Pradesh |
₹3600 to 3610 |
₹3650 to 3660 |
|
Punjab |
₹3825 to 3860 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on April, 12 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,032.00 |
|
Kanpur |
M/30 |
₹3,979.50 |
|
Kolhapur |
M/30 |
₹3,759.00 |
|
Kolkata |
M/30 |
₹4,011.00 |
|
Muzaffarnagar |
M/30 |
₹3,974.25 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $623.50 ton, whereas the New York Sugar #11 front month contract is trading at 20.75 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.485 whereas USD was trading with BRL at 5.0914, Crude futures traded at ₹7179, Crude WTI traded at $85.80 barrel. Sensex closed 793.25 points lower at 74244.90 whereas Nifty ended 234.40 points lower at 234.40.
