ChiniMandi, Mumbai: 16th March 2024
Domestic Market
Domestic sugar prices continued to trade weak
Domestic sugar prices are reported to be weak for the second session due to lower demand. Furthermore, slower mill closures are putting downward pressure on domestic sugar prices. Prices have dropped by Rs 10 per quintal in the major markets.
Indian Sugar production as on 15 March was reported at 28 MMT lower by 1.4% y/y. M-grade sugar in Muzaffarnagar ranges between Rs 3,760 and Rs 3,800 per quintal, whereas S-grade sugar in Kolhapur is expected to cost between Rs 3,430 and Rs 3,470. Agrimandi expects the price of S grade sugar in the Kolhapur market to fall to between Rs 3,400 and Rs 3,480 per quintal within the next two weeks. Sugar grades in Solapur range between Rs 3,360 and Rs 3,400 per quintal.
Ex-mill Sugar Prices as on March, 16 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3420 to 3470 |
₹3500 to 3550 |
|
Karnataka |
₹3600 |
– |
|
Uttar Pradesh |
|
₹3770 to 3800 |
|
Gujarat |
₹3481 to 3521 |
₹3531 to 3581 |
|
Tamil Nadu |
₹3600 to 3680 |
₹3675 to 3700 |
|
Madhya Pradesh |
₹3700 to 3720 |
₹3750 to 3770 |
|
Punjab |
₹3825 to 3880 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on March, 16 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,021.50 |
|
Kanpur |
M/30 |
₹3,969.00 |
|
Kolhapur |
M/30 |
₹3,738.00 |
|
Kolkata |
M/30 |
₹4,000.50 |
|
Muzaffarnagar |
M/30 |
₹3,963.75 |
News Round-Up
From the Editor’s desk- Reframing sugar: Understanding its role in health and culture
From the Editor’s desk- Reframing sugar: Understanding its role in health and culture
Agriculture department initiates steps to relocate sugarcane parasite breeding centre to Gobichettipalayam
Researchers from Japan and Brazil to study use of ethanol to raise crop resilience
Researchers from Japan and Brazil to study use of ethanol to raise crop resilience
