ChiniMandi, Mumbai: 14th June 2024
Domestic Market
Sugar prices were stable
After a firm session, sugar prices in major domestic markets are reported to be stable on good buying. Demand was reported to be good which supported prices.
Meanwhile, the Indian monsoon has covered the majority of Maharashtra’s cane-growing regions, and conditions are favorable for further development. These rains are expected to benefit the standing crop. Monsoon movement is stagnated for 2-3 days.
In Muzaffarnagar M-grade sugar ranges from Rs 3,840 to 3,860 per quintal, while S-grade sugar in Kolhapur traded between Rs 3,580 and 3,620.
Agrimandi forecasts that the price of S grade sugar in the Kolhapur market will fall in the next two weeks to between Rs 3,540 and Rs 3,660 per quintal.
Ex-mill Sugar Prices as on June, 14 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3590 to 3630 |
₹3670 to 3710 |
|
Karnataka |
₹3760 to 3775 |
– |
|
Uttar Pradesh |
|
₹3840 to 3860 |
|
Gujarat |
₹3631 to 3651 |
₹3731 to 3751 |
|
Tamil Nadu |
₹3790 to 3900 |
₹3870 to 4000 |
|
Madhya Pradesh |
₹3720 to 3780 |
₹3750 to 3800 |
|
Punjab |
₹3975 to 4060 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on June, 14 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,084.50 |
|
Kanpur |
M/30 |
₹4,047.75 |
|
Kolhapur |
M/30 |
₹3,885.00 |
|
Kolkata |
M/30 |
₹4,105.50 |
|
Muzaffarnagar |
M/30 |
₹4,042.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $563.00 ton, whereas the New York Sugar #11 front month contract is trading at 19.38 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.536 whereas USD was trading with BRL at 5.3565, Crude futures traded at ₹6580, Crude WTI traded at $78.80 barrel. Sensex closed 181.87 points higher at 76992.77 whereas Nifty closed 66.70 points higher at 23465.60
News Round-Up
India Chair of ISO: New Delhi to host prestigious 64th Council meeting
India Chair of ISO: New Delhi to host prestigious 64th Council meeting
UP govt rolls out extensive strategy to shield crops from heatwaves, monsoon floods
UP govt rolls out extensive strategy to shield crops from heatwaves, monsoon floods
No proposal to alter duty structure on wheat imports: Ministry
No proposal to alter duty structure on wheat imports: Ministry
rice of S grade sugar in the Kolhapur market will fall in the next two weeks to between Rs 3,540 and Rs 3,660 per quintal.
