ChiniMandi, Mumbai: 17th Dec 2024
Domestic Market
Domestic prices started to fall again.
Domestic sugar prices in major markets were reported to be lower by Rs 10-20 per quintal due to weak demand. Prices fell by Rs 20 per quintal in Uttar Pradesh and Rs 10 per quintal in Maharashtra and Karnataka.
Almost all mills are operational in Karnataka and Uttar Pradesh, and 185 mills have begun crushing operations in Maharashtra, which should help keep prices under control. Due to limited cane availability in Maharashtra, fewer mills are expected to operate this season.
As of December 15th, Indian mills had produced 6.09 MMT, down 18% because mills in Maharashtra and Karnataka began late. Around 472 mills are operational, compared to 502 mills last year. The recovery rate is reported to be slightly lower than the previous season, with recovery lower across the major states.
S-grade sugar in Kolhapur costs Rs 3,300-3,350 per quintal, while M-grade sugar in Muzaffarnagar costs Rs 3,660-3,700. Agrimandi.live predicts that the price of Kolhapur S-grade sugar will be between Rs 3,260 and Rs 3,380 per quintal in the near future.
Ex-mill Sugar Prices as on Dec, 17 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3330 to 3370 |
₹3420 to 3450 |
|
South Karnataka |
₹3420 to 3480 |
₹3500 to 3525 |
|
Uttar Pradesh |
|
₹3650 to 3700 |
|
Gujarat |
₹3411 to 3461 |
₹3481 to 3511 |
|
Tamil Nadu |
₹3590 to 3700 |
₹3650 to 3775 |
|
Madhya Pradesh |
₹3430 to 3480 |
₹3500 to 3710 |
|
Punjab |
₹3710 to 3821 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Dec, 17 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3,906.00 |
|
Kanpur |
M/30 |
₹3,869.25 |
|
Kolhapur |
M/30 |
₹3,591.00 |
|
Kolkata |
M/30 |
₹3,916.50 |
|
Muzaffarnagar |
M/30 |
₹3,864.00 |
|
Ahmedabad |
M/30 |
₹3,738.00 |
|
Bangaluru |
M/30 |
₹3,790.50 |
|
Chennai |
M/30 |
₹3,906..00 |
At the time of writing this update London White Sugar #5 front month contract is trading at $506.10 ton, whereas the New York Sugar #11 front month contract is trading at 20.52c/lb. The corn futures market trades at 430-0 and the ethanol Chicago trades at 1.62655s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 84.909 whereas USD was trading with BRL at 6.0504, Crude WTI traded at $69.51 barrel. Sensex closed 1,064.12 points down at 80,684.45 whereas Nifty closed 332.25 points lower at 24,336.00
News Round-Up
Season 2024-25: Sugar production updates by ISMA till December 15
Season 2024-25: Sugar production updates by ISMA till December 15
Transforming sugar industry of Maharashtra: Need for policy formation for establishing multi-feed distilleries in state
BCL Industries receives EC for another 150 KLPD ethanol plant, subsidiary gets consent to establish bio-diesel plant
