ChiniMandi, Mumbai: 12th Aug 2024
Domestic Market
Domestic sugar prices remain weak
Domestic sugar prices remained low in the key centers due to limited demand at higher prices. Prices declined by Rs 10 per quintal in Maharashtra and Rs 40 per quintal in Uttar Pradesh. According to local sources, demand is extremely low, causing costs to rise significantly.
The price range for S-grade sugar in Muzaffarnagar was Rs 3,890-3,940 per quintal, while in Kolhapur it was Rs 3,630–3,670. 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, 12 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3620 to 3660 |
₹3700 to 3740 |
|
Karnataka |
₹3775 to 3825 |
– |
|
Uttar Pradesh |
|
₹3890 to 3940 |
|
Gujarat |
₹3635 to 3666 |
₹3735 to 3766 |
|
Tamil Nadu |
₹3850 to 4025 |
₹4000 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, 12 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,147.50 |
|
Kanpur |
M/30 |
₹4,095.00 |
|
Kolhapur |
M/30 |
₹3,906.00 |
|
Kolkata |
M/30 |
₹4,200.00 |
|
Muzaffarnagar |
M/30 |
₹4,095.00 |
|
Ahmedabad |
M/30 |
₹4,021.50 |
|
Banglore |
M/30 |
₹4,053.00 |
|
Chennai |
M/30 |
₹4,189.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $522.50 ton, whereas the New York Sugar #11 front month contract is trading at 18.45 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.965 whereas USD was trading with BRL at 5.4853, Crude futures traded at ₹6546, Crude WTI traded at $77.93 barrel. Sensex closed 56.99 points lower at 79648.92 whereas Nifty closed 21.65 points lower at 24345.85.
