Sugar prices were stable to weak in domestic markets
Domestic sugar prices were reported to be stable to weak with prices falling by Rs 10 per quintal in Uttar Pradesh and reporting steady in Kolhapur. Demand is claimed to be sluggish, with buyers preferring hand-to-mouth. Furthermore, crushing is likely to commence in Karnataka by mid-October, putting downward pressure on pricing.
M-grade sugar in Muzaffarnagar is priced between Rs 3,890 and Rs 3,940 per quintal, while S-grade sugar in Kolhapur ranges between Rs 3,570 and Rs 3,640. Agrimandi.live predicts that S-grade sugar prices in Kolhapur would range between Rs 3,500 and Rs 3,650 per quintal in the near future.
Ex-mill Sugar Prices as on Oct, 14 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3560 to 3600 |
₹3600 to 3650 |
|
South Karnataka |
₹3650 to 3775 |
₹3650 to 3825 |
|
Uttar Pradesh |
|
₹3900 to 3950 |
|
Gujarat |
₹3621 to 3671 |
₹3681 to 3761 |
|
Tamil Nadu |
₹3825 to 3950 |
₹3925 to 4000 |
|
Madhya Pradesh |
₹3700 to 3720 |
₹3750 to 3820 |
|
Punjab |
₹3950 to 4040 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Oct, 14 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,168.50 |
|
Kanpur |
M/30 |
₹4,126.50 |
|
Kolhapur |
M/30 |
₹3,885.00 |
|
Kolkata |
M/30 |
₹4,210.50 |
|
Muzaffarnagar |
M/30 |
₹4,126.50 |
|
Ahmedabad |
M/30 |
₹4,032.00 |
|
Bangalore |
M/30 |
₹4,074.00 |
|
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 $574.10 ton, whereas the New York Sugar #11 front month contract is trading at 22.18 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 84.052 whereas USD was trading with BRL at 5.6248, Crude WTI traded at $74.10 barrel. Sensex closed 591.69 points higher at 81,973.05 whereas Nifty closed 163.70 points higher at 25,127.95.
