ChiniMandi, Mumbai: 22nd Oct 2024
Domestic Market
Steady sentiment reported in domestic sugar prices
Following a period of weak trading lasting 3-4 sessions, domestic sugar prices have stabilized across major markets. Prices have decreased by Rs 100-120 per quintal from the maximum level. Despite the recent price decline, demand continues to be low as buyers adopt a hand-to-mouth purchasing strategy. Crushing in Karnataka and Maharashtra is delayed by 20-30 days this season; however, adequate stocks are maintaining low prices.
The price of M-grade sugar in Muzaffarnagar ranges from Rs 3,830 to Rs 3,880 per quintal, whereas S-grade sugar in Kolhapur is priced between Rs 3,530 and Rs 3,600. Agrimandi.live anticipates that S-grade sugar prices in Kolhapur will range from Rs 3,500 to Rs 3,620 per quintal in the near future.
Ex-mill Sugar Prices as on Oct, 22 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3520 to 3560 |
₹3600 to 3640 |
|
South Karnataka |
₹3630 to 3775 |
₹3630 to 3825 |
|
Uttar Pradesh |
|
₹3830 to 3880 |
|
Gujarat |
₹3601 to 3651 |
₹3675 to 3775 |
|
Tamil Nadu |
₹3760 to 3925 |
₹3820 to 4025 |
|
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, 22 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 $563.50 ton, whereas the New York Sugar #11 front month contract is trading at 21.85 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 84.074 whereas USD was trading with BRL at 5.7093, Crude futures traded at ₹5962, Crude WTI traded at $70.58 barrel. Sensex closed 930.55 points lower at 80220.72 whereas Nifty closed 309.00 points lower at 24472.10
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