ChiniMandi, Mumbai: 20th June 2024
Domestic Market
Sugar prices traded stable
After remaining firm for a session, domestic sugar prices were said to be stable across the board. Demand was reported to be low today, weighing on prices. Meanwhile, the Indian monsoon has moved across Maharashtra after being stuck for 8-9 days, and conditions are favorable for further advancement.
In Muzaffarnagar M-grade sugar trades between Rs 3,850 and Rs 3,870 per quintal, while S-grade sugar in Kolhapur ranges between Rs 3,580 and Rs 3,620. Agrimandi expects the price of S grade sugar in the Kolhapur market to fall between Rs 3,540 and Rs 3,660 per quintal in the next two weeks.
Ex-mill Sugar Prices as on June, 20 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3580 to 3620 |
₹3660 to 3700 |
|
Karnataka |
₹3760 to 3775 |
– |
|
Uttar Pradesh |
|
₹3855 to 3875 |
|
Gujarat |
₹3611 to 3631 |
₹3711 to 3731 |
|
Tamil Nadu |
₹3800 to 3900 |
₹3860 to 4000 |
|
Madhya Pradesh |
₹3720 to 3780 |
₹3750 to 3800 |
|
Punjab |
₹3975 to 4060 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on June, 20 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,105.50 |
|
Kanpur |
M/30 |
₹4,063.50 |
|
Kolhapur |
M/30 |
₹3,885.00 |
|
Kolkata |
M/30 |
₹4,126.50 |
|
Muzaffarnagar |
M/30 |
₹4,063.50 |
|
Ahmedabad |
M/30 |
₹3,995.25 |
|
Banglore |
M/30 |
₹4,000.50 |
|
Chennai |
M/30 |
₹4,116.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $561.10 ton, whereas the New York Sugar #11 front month contract is trading at 19.37 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.606 whereas USD was trading with BRL at 5.4060, Crude futures traded at ₹6761, Crude WTI traded at $80.79 barrel. Sensex closed 141.34 points higher at 77478.93 whereas Nifty closed 51.00 points higher at 23567.00
News Round-Up
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Rupee hits all-time low against US Dollar
