Domestic sugar prices remained weak.
Sugar prices continue to fall by Rs 10-20 per quintal every day as the crushing season begins in Karnataka and Uttar Pradesh. Sugar prices in Maharashtra and Karnataka have fallen by Rs 10 per quintal, while Uttar Pradesh has seen a further drop of Rs 20 per quintal.
Demand is said to be dull, with buyers preferring hand-to-mouth and there is no news of increased sugar MSP from the government, which is keeping prices under pressure over the last fortnight.
S-grade sugar in Kolhapur costs Rs 3,430-3,500 per quintal, whereas M-grade sugar in Muzaffarnagar costs Rs 3,770-3,820. According to Agrimandi.live, Kolhapur S-grade sugar will be priced between Rs 3,400 and Rs 3,560 per quintal in the near future.
Ex-mill Sugar Prices as on Nov, 15 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3450 to 3480 |
₹3530 to 3580 |
|
South Karnataka |
₹3580 to 3700 |
₹3640 to 3750 |
|
Uttar Pradesh |
|
₹3790 to 3840 |
|
Gujarat |
₹3555 to 3591 |
₹3581 to 3681 |
|
Tamil Nadu |
₹3700 to 3875 |
₹3760 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, 15 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,042.50 |
|
Kanpur |
M/30 |
₹4,011.00 |
|
Kolhapur |
M/30 |
₹3,738.00 |
|
Kolkata |
M/30 |
₹4,063.50 |
|
Muzaffarnagar |
M/30 |
₹4,005.75 |
|
Ahmedabad |
M/30 |
₹3,895.50 |
|
Bangalore |
M/30 |
₹3,948.00 |
|
Chennai |
M/30 |
₹4,053.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $540.00 ton, whereas the New York Sugar #11 front month contract is trading at 21.58 c/lb. The corn futures market trades at 419-0 and the ethanol Chicago trades at 1.61500s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 84.430 whereas USD was trading with BRL at 5.7956, Crude futures traded at ₹5811 Crude WTI traded at $68.64 barrel.
