ChiniMandi, Mumbai: 21st Aug 2024
Domestic Market
Domestic sugar prices were stable.
Major markets reported stable domestic sugar prices. According to local sources, demand is extremely low despite the limited supply, as the month’s quota was lower than expected, keeping prices stable.
The price range for S-grade sugar in Muzaffarnagar was Rs 3,850–3,910 per quintal, while in Kolhapur it was Rs 3,620–3,660. Agrimandi expects S-grade sugar prices in the Kolhapur market to range between Rs 3,600 and Rs 3,750 per quintal over the next two weeks.
Ex-mill Sugar Prices as on Aug, 21 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3580 to 3620 |
₹3660 to 3700 |
|
Karnataka |
₹3725 to 3800 |
– |
|
Uttar Pradesh |
|
₹3850 to 3910 |
|
Gujarat |
₹3621 to 3651 |
₹3705 to 3751 |
|
Tamil Nadu |
₹3815 to 4025 |
₹3975 to 4125 |
|
Madhya Pradesh |
₹3730 to 3770 |
₹3820 to 3860 |
|
Punjab |
₹4000 to 4060 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Aug, 21 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,110.75 |
|
Kanpur |
M/30 |
₹4,058.25 |
|
Kolhapur |
M/30 |
₹3,895.50 |
|
Kolkata |
M/30 |
₹4,163.25 |
|
Muzaffarnagar |
M/30 |
₹4,058.25 |
|
Ahmedabad |
M/30 |
₹4,005.75 |
|
Banglore |
M/30 |
₹4,042.50 |
|
Chennai |
M/30 |
₹4,179.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $504.40 ton, whereas the New York Sugar #11 front month contract is trading at 17.62 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.903 whereas USD was trading with BRL at 5.4817, Crude futures traded at ₹6173, Crude WTI traded at $73.39 barrel. Sensex closed 102.44 points higher at 80905.30 whereas Nifty closed 71.35 points higher at 24770.20
News Round-Up
Meerapur: Region hopes for announcement on expansion of sugar mill
Meerapur: Region hopes for announcement on expansion of sugar mill
Haryana: Chief Minister promises to set up sugar mill in Naraingarh
Haryana: Chief Minister promises to set up sugar mill in Naraingarh
India’s manufacturing is all set to expand with robust foundations of reforms: Nuvama report
India’s manufacturing is all set to expand with robust foundations of reforms: Nuvama report
