ChiniMandi, Mumbai: 19th January 2024
Domestic Market
Sugar prices were said to be stable in the major markets due to low demand in the second session. The current crushing season has also put pressure on major spot market prices. Mills continue to operate despite the threat of early closure, which is expected to affect prices in the medium term.
Muzaffarnagar’s M-grade sugar costs between Rs 3,770 and Rs 3,830 per quintal, while Kolhapur’s S-grade sugar 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 in the next two weeks.
Ex-mill Sugar Prices as on January, 19 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, 19 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 $664.60 ton, whereas the New York Sugar #11 front month contract is trading at 23.52 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.093 whereas USD was trading with BRL at 4.9211, Crude futures traded at ₹6162, Crude WTI traded at $74.03 barrel. Sensex closed 496.37 points higher at 71683.23 whereas Nifty ended 160.15 points higher at 21622.40
News Round-Up
Sustainability in sugar industry: New tool will help sugarcane producers get on track with climate commitments
Sucro Can Sourcing to set up Canada’s biggest sugar refinery in Ontario
Sucro Can Sourcing to set up Canada’s biggest sugar refinery in Ontario
Capacity of distillery unit increased in Uttam sugar mill
