ChiniMandi, Mumbai: 21st Oct 2024
Domestic Market
Weak sentiment in domestic sugar prices
Domestic sugar prices have continued to fall throughout markets, with a reported decrease of Rs 10 per quintal across the major markets. Although crushing delayed and the recent price drop, demand remains low as purchasers choose a hand-to-mouth purchasing strategy.
M-grade sugar in Muzaffarnagar is between Rs 3,830 and Rs 3,880 per quintal, while S-grade sugar in Kolhapur costs between Rs 3,530 and Rs 3,600. Agrimandi.live expects that S-grade sugar prices in Kolhapur would be between Rs 3,500 and Rs 3,620 per quintal in the near future.
Ex-mill Sugar Prices as on Oct, 21 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3520 to 3560 |
₹3600 to 3640 |
|
South Karnataka |
₹3640 to 3775 |
₹3640 to 3825 |
|
Uttar Pradesh |
|
₹3830 to 3880 |
|
Gujarat |
₹3601 to 3651 |
₹3675 to 3775 |
|
Tamil Nadu |
₹3760 to 3950 |
₹3820 to 4050 |
|
Madhya Pradesh |
₹3700 to 3720 |
₹3750 to 3820 |
|
Punjab |
₹3950 to 4050 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Oct, 21 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,095.00 |
|
Kanpur |
M/30 |
₹4,063.00 |
|
Kolhapur |
M/30 |
₹3,843.00 |
|
Kolkata |
M/30 |
₹4,137.00 |
|
Muzaffarnagar |
M/30 |
₹4,063.00 |
|
Ahmedabad |
M/30 |
₹3,990.00 |
|
Banglore |
M/30 |
₹4,032.00 |
|
Chennai |
M/30 |
₹4,137.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $570.20 ton, whereas the New York Sugar #11 front month contract is trading at 22.25 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 84.070 whereas USD was trading with BRL at 5.7285, Crude futures traded at ₹5930, Crude WTI traded at $70.03 barrel. Sensex closed 73.48 points lower at 81151.27 whereas Nifty closed 112.50 points lower at 24741.55
News Round-Up
Tamil Nadu: Farmers demand government takeover of Thiru Arooran sugar factory to protect their interests
Silver touches Rs 1 lakh mark on MCX march contract
Punjab farmers urge government for permanent solution to stubble burning amid strict penalties
Punjab farmers urge government for permanent solution to stubble burning amid strict penalties
