ChiniMandi, Mumbai: 22nd April 2024
Domestic Market
Domestic sugar prices continue to trade weak
Domestic sugar prices in the major markets were reported to be weak for the second session after a sharp rise during the last week. Prices have risen by nearly Rs 150 per quintal due to lower quota availability amidst strong demand.
In Muzaffarnagar, M-grade sugar is priced between Rs 3,870 and Rs 3,900 per quintal, while S-grade sugar is trading between Rs 3,530 and Rs 3,580 per quintal. Agrimandi expects the price of S grade sugar in the Kolhapur market to fall to between Rs 3,460 and Rs 3,580 per quintal within the next two weeks.
Ex-mill Sugar Prices as on April, 22 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3530 to 3570 |
₹3610 to 3650 |
|
Karnataka |
₹3800 |
– |
|
Uttar Pradesh |
|
₹3870 to 3900 |
|
Gujarat |
₹3605 to 3640 |
₹3705 to 3750 |
|
Tamil Nadu |
₹3780 to 3880 |
₹3885 |
|
Madhya Pradesh |
₹3660 to 3700 |
₹3700 to 3760 |
|
Punjab |
₹3980 to 4030 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on April, 22 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,126.50 |
|
Kanpur |
M/30 |
₹4,084.50 |
|
Kolhapur |
M/30 |
₹3,843.00 |
|
Kolkata |
M/30 |
₹4,158.00 |
|
Muzaffarnagar |
M/30 |
₹4,079.25 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $570.80 ton, whereas the New York Sugar #11 front month contract is trading at 19.99 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.369 whereas USD was trading with BRL at 5.2031, Crude futures traded at ₹6829, Crude WTI traded at $81.76 barrel. Sensex closed 560.29 points higher at 73648.62 whereas Nifty ended 189.40 points higher at 22336.40
News Round-Up
USDA forecasts India’s 2024-25 sugar output: Read the report here
USDA forecasts India’s 2024-25 sugar output: Read the report here
Telangana: Congress MLC promises to revive sugar mills by end of 2025
Telangana: Congress MLC promises to revive sugar mills by end of 2025
11.96 per cent ethanol blending achieved till March end
