ChiniMandi, Mumbai: 23rd July 2024
Domestic Market
Domestic sugar prices were stable
Following a sharp increase, domestic prices were reported to be stable across markets. According to the sources, demand is strong, which is supporting prices. Prices in Uttar Pradesh are said to be supportive because mills sold the majority of their inventory early in the month.
S-Grade sugar prices in Kolhapur range from Rs 3,570 to 3,595 per quintal, while M-grade sugar in Muzaffarnagar costs Rs 3,830 to 3,860 per 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 in the coming two weeks.
Ex-mill Sugar Prices as on July, 23 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, 23 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 $530.60 ton, whereas the New York Sugar #11 front month contract is trading at 18.22 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.712 whereas USD was trading with BRL at 5.5793, Crude futures traded at ₹6551, Crude WTI traded at $78.11 barrel. Sensex closed 73.04 points lower at 80429.04 whereas Nifty closed 30.20 points lower at 24479.05
News Round-Up
Union Budget 2024: Key highlights of Finance Minister Nirmala Sitharaman’s speech
Union Budget 2024: Key highlights of Finance Minister Nirmala Sitharaman’s speech
Karnataka: Vishwaraj Sugar receives approval to establish new sugar factory
Karnataka: Vishwaraj Sugar receives approval to establish new sugar factory
Government’s allocation of Rs 1.52 lakh crore for R&D in agriculture and allied sectors will enhance productivity and boost farmers income: Tarun Sawhney
