ChiniMandi, Mumbai: 14th Nov 2024
Domestic Market
Domestic sugar prices continued to show signs of weakness.
Sugar prices are continuing to decline by Rs 10-20 per quintal every day due to the start of the crushing season in Karnataka and Uttar Pradesh. Mills in Maharashtra have reported a decline of Rs 10 per quintal in sugar prices, while Uttar Pradesh and Karnataka has seen another drop of Rs 20 per quintal. Because of the assembly elections in Maharashtra, crushing is probably going to begin the last week of November.
While S-grade sugar in Kolhapur costs Rs 3,440-3,510 per quintal, M-grade sugar in Muzaffarnagar costs Rs 3,790-3,840. According to Agrimandi.live, Kolhapur S-grade sugar will cost between Rs 3,400 and Rs 3,560 per quintal in the near future.
Ex-mill Sugar Prices as on Nov, 14 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3445 to 3505 |
₹3665 to 3745 |
|
South Karnataka |
₹3600 to 3700 |
₹3650 to 3750 |
|
Uttar Pradesh |
|
₹3790 to 3840 |
|
Gujarat |
₹3555 to 3591 |
₹3581 to 3681 |
|
Tamil Nadu |
₹3725 to 3875 |
₹3785 to 3975 |
|
Madhya Pradesh |
₹3700 to 3720 |
₹3750 to 3820 |
|
Punjab |
₹3950 to 4050 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Nov, 14 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,063.50 |
|
Kanpur |
M/30 |
₹4,032.00 |
|
Kolhapur |
M/30 |
₹3,748.50 |
|
Kolkata |
M/30 |
₹4,084.50 |
|
Muzaffarnagar |
M/30 |
₹4,026.75 |
|
Ahmedabad |
M/30 |
₹3,906.00 |
|
Banglore |
M/30 |
₹3,958.50 |
|
Chennai |
M/30 |
₹4,063.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $538.10 ton, whereas the New York Sugar #11 front month contract is trading at 20.92 c/lb. The corn futures market trades at 426-2 and the ethanol Chicago trades at 1.62500s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 84.460 whereas USD was trading with BRL at 5.8062, Crude futures traded at ₹5811 Crude WTI traded at $68.78 barrel. Sensex closed 110.64 points lower at 77580.31 whereas Nifty closed 26.35 points lower at 23532.70
News Round-Up
Bajaj Energy recognized as Uttar Pradesh’s ‘Best Employer Brand 2024’ and LPGCL as ‘Dream Company to Work For’ by World HRD Congress
Union Minister outlines vision for India’s energy sector, emphasizing 3 key principles: availability, affordability, and sustainability
Bihar: Three new ethanol plants to come up in Muzaffarpur
