ChiniMandi, Mumbai: 13th February 2024
Domestic Market
Steady to firm sentiment reported in domestic Sugar prices
Domestic sugar prices were reported to be stable or higher. Prices rose by Rs 10-20 per quintal in Muzaffarnagar, while remaining stable in other markets. According to reports, prices are rising as crushing progresses faster than expected, implying higher sugar production than previously anticipated.
According to reports, the price of S-grade sugar in Kolhapur ranged between Rs 3,430 and Rs 3,480 per quintal, while M-grade sugar in Muzaffarnagar cost between Rs 3,750 and Rs 3,820. According to Agrimandi, the cost of S grade sugar in the Kolhapur market is expected to range between Rs 3,400 and Rs 3,550 per quintal over the next two weeks. However, prices in Solapur were reported to range between Rs 3,350 and Rs 3,410 per quintal.
Ex-mill Sugar Prices as on February, 13 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3405 to 3440 |
₹3495 to 3520 |
|
Karnataka |
₹3580 to 3600 |
₹3630 |
|
Uttar Pradesh |
|
₹3740 to 3800 |
|
Gujarat |
₹3560 |
₹3621 to 3651 |
|
Tamil Nadu |
₹3625 to 3900 |
₹3685 to 3950 |
|
Madhya Pradesh |
₹3710 to 3720 |
₹3750 to 3770 |
|
Punjab |
₹3850 to 3880 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on February, 13 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3,963.75 |
|
Kanpur |
M/30 |
₹3,916.50 |
|
Kolhapur |
M/30 |
₹3759.00 |
|
Kolkata |
M/30 |
₹3,984.75 |
|
Muzaffarnagar |
M/30 |
₹3,916.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $660.70 ton, whereas the New York Sugar #11 front month contract is trading at 23.52 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 82.999 whereas USD was trading with BRL at 4.9537, Crude futures traded at ₹6434, Crude WTI traded at $77.39 barrel. Sensex closed 482.70 points higher at 71555.19 whereas Nifty ended 127.20 points higher at 21743.25
News Round-Up
105 sugar mills are settling payments to sugarcane farmers within ten days: CM Yogi Adityanath
105 sugar mills are settling payments to sugarcane farmers within ten days: CM Yogi Adityanath
We are dependent on Indian market for many essential commodities including sugar: Bangladesh’s Foreign Minister
Tamil Nadu: Farmers from Trichy extend support to Punjab farmers’ march
Tamil Nadu: Farmers from Trichy extend support to Punjab farmers’ march
