Domestic Market
Domestic sugar prices reported to be stable
Domestic sugar prices in major markets were reported to be stable due to weak demand. Demand is said to be dull at the current price levels, and trading activity is said to be low.
In Muzaffarnagar, M-grade sugar costs between Rs 3,900 and Rs 3,920 per quintal, while S-grade sugar costs between Rs 3,620 and Rs 3,650. Agrimandi predicts that the price of S grade sugar in the Kolhapur market will fall to between Rs 3,540 and Rs 3,660 per quintal within the next two weeks.
Ex-mill Sugar Prices as on May, 15 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3630 to 3660 |
₹3710 to 3740 |
|
Karnataka |
₹3900 |
– |
|
Uttar Pradesh |
|
₹3900 to 3920 |
|
Gujarat |
₹3701 to 3721 |
₹3805 to 3841 |
|
Tamil Nadu |
₹3875 to 4000 |
₹3950 to 4050 |
|
Madhya Pradesh |
₹3750 to 3800 |
₹3790 to 3840 |
|
Punjab |
₹4000 to 4080 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on May, 15 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,158.00 |
|
Kanpur |
M/30 |
₹4,116.00 |
|
Kolhapur |
M/30 |
₹3,927.00 |
|
Kolkata |
M/30 |
₹4,179.00 |
|
Muzaffarnagar |
M/30 |
₹4,116.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $549.70 ton, whereas the New York Sugar #11 front month contract is trading at 18.72 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.504 whereas USD was trading with BRL at 5.1291, Crude futures traded at ₹6487, Crude WTI traded at $77.89 barrel. Sensex closed 117.58 points lower at 72987.09 whereas Nifty closed 17.30 points lower at 22200.55
News Round-Up
Magadh Sugar & Energy reports positive financial performance
Magadh Sugar & Energy reports positive financial performance
Dalmia Bharat Sugar reports resilient financial performance
Tariff war between US-China to open up trade opportunities for India
Tariff war between US-China to open up trade opportunities for India
