ChiniMandi, Mumbai: 21st June 2024
Domestic Market
Sugar prices were traded lower
After remaining stable to firm for two sessions, domestic sugar prices were said to be lower across the markets. Demand was reported to be low from two days which is weighing on prices. Meanwhile, the Indian monsoon has covered the entire Maharashtra after being stuck for 8-9 days, and conditions are favorable for further advancement.
In Muzaffarnagar M-grade sugar trades between Rs 3,840 and Rs 3,860 per quintal, while S-grade sugar in Kolhapur ranges between Rs 3,560 and Rs 3,600. Agrimandi expects the price of S grade sugar in the Kolhapur market to fall between Rs 3,540 and Rs 3,640 per quintal in the next two weeks.
Ex-mill Sugar Prices as on June, 21 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3570 to 3620 |
₹3650 to 3700 |
|
Karnataka |
₹3760 to 3775 |
– |
|
Uttar Pradesh |
|
₹3845 to 3865 |
|
Gujarat |
₹3605 to 3635 |
₹3705 to 3750 |
|
Tamil Nadu |
₹3800 to 3925 |
₹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, 21 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,095.00 |
|
Kanpur |
M/30 |
₹4,053.00 |
|
Kolhapur |
M/30 |
₹3,864.00 |
|
Kolkata |
M/30 |
₹4,116.00 |
|
Muzaffarnagar |
M/30 |
₹4,053.00 |
|
Ahmedabad |
M/30 |
₹3,974.25 |
|
Banglore |
M/30 |
₹3,979.50 |
|
Chennai |
M/30 |
₹4,095.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $556.80 ton, whereas the New York Sugar #11 front month contract is trading at 18.97 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.544 whereas USD was trading with BRL at 5.4443, Crude futures traded at ₹6809, Crude WTI traded at $81.46 barrel. Sensex closed 269.03 points lower at 77209.90 whereas Nifty closed 65.90 points lower at 23501.10
News Round-Up
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