ChiniMandi, Mumbai: 18th January 2024
Domestic Market
Domestic sugar prices are reported to be stable
Sugar prices were reported to be stable in the major markets due to low demand. The current crushing season is also putting pressure on major spot market prices. Mills continue to operate despite the threat of early closure, which is expected to have an impact on prices in the medium term.
M-grade sugar in Muzaffarnagar costs between Rs 3,770 and Rs 3,830 per quintal, while S-grade sugar in Kolhapur costs between Rs 3,500 and Rs 3,560. Agrimandi.live expects S grade sugar in Kolhapur markets to trade between Rs 3,480 and Rs 3,600 per quintal over the next two weeks.
Ex-mill Sugar Prices as on January, 18 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3500 to 3530 |
₹3580 to 3610 |
|
Karnataka |
₹3680 to 3700 |
₹3740 to 3750 |
|
Uttar Pradesh |
|
₹3770 to 3840 |
|
Gujarat |
₹3611 to 3641 |
Old – ₹3581 to 3601 New – ₹3681 to 3701 |
|
Tamil Nadu |
₹3730 to 3875 |
₹3825 to 3900 |
|
Madhya Pradesh |
₹3710 to 3720 |
₹3750 to 3770 |
|
Punjab |
₹3900 to 3940 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on January, 18 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,021.50 |
|
Kanpur |
M/30 |
₹3,979.50 |
|
Kolhapur |
M/30 |
₹3,822.00 |
|
Kolkata |
M/30 |
₹4,032.00 |
|
Muzaffarnagar |
M/30 |
₹3,979.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $642.00 ton, whereas the New York Sugar #11 front month contract is trading at 22.57 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.176 whereas USD was trading with BRL at 4.9298, Crude futures traded at ₹6025, Crude WTI traded at $72.32 barrel. Sensex closed 313.90 points lower at 71186.86 whereas Nifty ended 109.70 points lower at 21462.25
News Round-Up
Country achieves 10.77 per cent ethanol blending percentage as on January 7, 2024
Country achieves 10.77 per cent ethanol blending percentage as on January 7, 2024
Crushing season 2023-24: Uttar Pradesh government increases sugarcane price by Rs 20 per quintal
Crushing season 2023-24: Uttar Pradesh government increases sugarcane price by Rs 20 per quintal
NSL Group Chairman Mandava Prabhakar Rao conferred with Honorary Doctorate
NSL Group Chairman Mandava Prabhakar Rao conferred with Honorary Doctorate
