ChiniMandi, Mumbai: 22nd July 2024
Domestic Market
Steady to high sentiment witnessed in Domestic sugar prices
Domestic sugar prices were traded higher by Rs 10 per quintal in Uttar Pradesh while Kolhapur reported stable. Lower sugar availability in Uttar Pradesh as they sold the quota aggressively in the beginning of the month is supporting the prices.
In Kolhapur, S-grade sugar traded between Rs 3,570 and 3,595 per quintal while M-grade sugar in Muzaffarnagar trades in the range of Rs 3,830 to 3,860 for a quintal. According to Agrimandi, S grade sugar in the Kolhapur market is expected to trade between Rs 3,520 and Rs 3,620 per quintal over the next two weeks.
Ex-mill Sugar Prices as on July, 22 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3560 to 3590 |
₹3640 to 3670 |
|
Karnataka |
₹3770 to 3800 |
– |
|
Uttar Pradesh |
|
₹3830 to 3860 |
|
Gujarat |
₹3615 to 3636 |
₹3715 to 3736 |
|
Tamil Nadu |
₹3780 to 3950 |
₹4000 |
|
Madhya Pradesh |
₹3670 to 3685 |
₹3745 to 3785 |
|
Punjab |
₹3840 to 3920 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on July, 22 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,074.00 |
|
Kanpur |
M/30 |
₹4,026.75 |
|
Kolhapur |
M/30 |
₹3,853.50 |
|
Kolkata |
M/30 |
₹4,105.50 |
|
Muzaffarnagar |
M/30 |
₹4,026.75 |
|
Ahmedabad |
M/30 |
₹3,948.00 |
|
Banglore |
M/30 |
₹3,958.50 |
|
Chennai |
M/30 |
₹4,084.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $533.10 ton, whereas the New York Sugar #11 front month contract is trading at 18.36 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.666 whereas USD was trading with BRL at 5.5913, Crude futures traded at ₹6558, Crude WTI traded at $78.23 barrel. Sensex closed 102.57 points lower at 80502.08 whereas Nifty closed 21.65 points lower at 24509.25
News Round-Up
From the Editor’s desk- Sugar and ethanol industry pins hopes on budget
From the Editor’s desk- Sugar and ethanol industry pins hopes on budget
Rice and sugarcane are water-guzzling crops; time has come to promote crop-neutral incentive structures: Economic Survey
AM Green plans big investment to set up two bio-ethanol plants
AM Green plans big investment to set up two bio-ethanol plants
