ChiniMandi, Mumbai: 13th March 2024
Domestic Market
Uptrend continued in domestic sugar prices
Domestic sugar prices are expected to remain firm for the third session due to strong demand. Prices have risen by Rs 5-10 per quintal in Uttar Pradesh and Maharashtra. At current prices, demand is said to be strong. Lower monthly quotas in Uttar Pradesh and faster mill closures in Maharashtra are helping to keep prices stable.
M-grade sugar in Muzaffarnagar ranges from Rs 3,770 to Rs 3,810 per quintal, while S-grade sugar in Kolhapur is estimated to cost between Rs 3,450 and Rs 3,480. Agrimandi expects the price of S grade sugar in the Kolhapur market to fall to between Rs 3,400 and Rs 3,480 per quintal within the next two weeks. In Solapur s grade sugar is varied between Rs 3,360 and Rs 3,400 per quintal.
Ex-mill Sugar Prices as on March, 13 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3420 to 3470 |
₹3500 to 3550 |
|
Karnataka |
₹3575 |
– |
|
Uttar Pradesh |
|
₹3790 to 3820 |
|
Gujarat |
₹3471 to 3511 |
₹3521 to 3571 |
|
Tamil Nadu |
₹3575 to 3680 |
₹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, 13 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,042.50 |
|
Kanpur |
M/30 |
₹3,990.00 |
|
Kolhapur |
M/30 |
₹3,759.00 |
|
Kolkata |
M/30 |
₹4,021.50 |
|
Muzaffarnagar |
M/30 |
₹3,984.75 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $611.60 ton, whereas the New York Sugar #11 front month contract is trading at 21.72 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 82.830 whereas USD was trading with BRL at 4.9832, Crude futures traded at ₹6554, Crude WTI traded at $79.20 barrel. Sensex closed 906.07 points lower at 72761.89 whereas Nifty ended 338.00 points lower at 21997.70
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