ChiniMandi, Mumbai: 16th Sep 2024
Domestic Market
Domestic sugar prices continue to rise
Domestic sugar prices were said to have increased for the second session after continuing to decline. Kolhapur prices were reported to be 15-20 per quintal more than Uttar Pradesh prices, which were reported to be 40-50 per quintal more. The slight recovery of primes follows a sharp decline from the start of the month. There is reportedly average demand. Furthermore, prices will probably be affected by promising crop prospects.
In Muzaffarnagar, M-grade sugar costs between Rs 3,790 and Rs 3,840 per quintal, while S-grade costs between Rs 3,575 and Rs 3,640 in Kolhapur. Agrimandi predicts that in the upcoming days, the price of S-grade sugar in Kolhapur will drop to between Rs 3,500 and Rs 3,650 per quintal.
Ex-mill Sugar Prices as on Sep, 16 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3560 to 3590 |
₹3640 to 3670 |
|
Karnataka |
₹3700 to 3800 |
₹3750 to 3850 |
|
Uttar Pradesh |
|
₹3790 to 3840 |
|
Gujarat |
₹3600 to 3630 |
₹3680 to 3730 |
|
Tamil Nadu |
₹3825 to 4000 |
₹3950 to 4100 |
|
Madhya Pradesh |
₹3730 to 3770 |
₹3975 |
|
Punjab |
₹4000 to 4060 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Sep, 16 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,053.00 |
|
Kanpur |
M/30 |
₹4,011.00 |
|
Kolhapur |
M/30 |
₹3,874.50 |
|
Kolkata |
M/30 |
₹4,116.00 |
|
Muzaffarnagar |
M/30 |
₹4,005.75 |
|
Ahmedabad |
M/30 |
₹4,011.00 |
|
Banglore |
M/30 |
₹4,032.00 |
|
Chennai |
M/30 |
₹4,158.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $524.50 ton, whereas the New York Sugar #11 front month contract is trading at 19.20 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.863 whereas USD was trading with BRL at 5.5563, Crude futures traded at ₹5817, Crude WTI traded at $68.34 barrel. Sensex closed 97.84 points higher at 82988.78 whereas Nifty closed 27.25 points higher at 25383.75
News Round-Up
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Sugar shortage fear: Nepal exploring G2G option for sugar imports
