ChiniMandi, Mumbai: 18th July 2024
Domestic Market
Domestic sugar prices have remained steady.
Domestic sugar prices across the markets were reported to be stable. Demand is reported to be good due to wedding season in North India. Moreover, as most of the mills have sold the monthly quota, selling pressure is less. In addition, there are rumours that Sugar MSP will be increased which is supporting the prices.
Grade sugar prices in Kolhapur range between Rs 3,560 and 3,585, while M-grade sugar in Muzaffarnagar trades for Rs 3,800 to 3,830. According to Agrimandi, S grade sugar in the Kolhapur market is expected to trade between Rs 3,500 and Rs 3,600 per quintal over the next two weeks.
Ex-mill Sugar Prices as on July, 18 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3550 to 3580 |
₹3630 to 3660 |
|
Karnataka |
₹3780 to 3800 |
– |
|
Uttar Pradesh |
|
₹3800 to 3830 |
|
Gujarat |
₹3590 to 3611 |
₹3690 to 3711 |
|
Tamil Nadu |
₹3790 to 3875 |
₹4000 |
|
Madhya Pradesh |
₹3670 to 3685 |
₹3745 to 3785 |
|
Punjab |
₹3840 to 3920 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on July, 18 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,042.50 |
|
Kanpur |
M/30 |
₹4,000.50 |
|
Kolhapur |
M/30 |
₹3,848.25 |
|
Kolkata |
M/30 |
₹4,074.00 |
|
Muzaffarnagar |
M/30 |
₹4,000.50 |
|
Ahmedabad |
M/30 |
₹3,937.50 |
|
Banglore |
M/30 |
₹3,937.50 |
|
Chennai |
M/30 |
₹4,063.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $549.00 ton, whereas the New York Sugar #11 front month contract is trading at 19.10 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.631 whereas USD was trading with BRL at 5.5413, Crude futures traded at ₹6906, Crude WTI traded at $81.13 barrel. Sensex closed 626.91 points higher at 81343.46 whereas Nifty closed 187.85 points higher at 24800.85
News Round-Up
Australia’s largest sugar producer halt operations amid workers’ strike
Australia’s largest sugar producer halt operations amid workers’ strike
Moody’s affirms stable outlook for BPCL, IOCL
