ChiniMandi, Mumbai: 23rd Aug 2024
Domestic Market
Domestic sugar prices were reported stable
Major markets reported stable domestic sugar prices on dull demand. According to traders, demand is extremely low despite the limited supply, which is keeping prices lower.
The price range for S-grade sugar in Muzaffarnagar was Rs 3,845–3,905 per quintal, while in Kolhapur it was Rs 3,620–3,660. Agrimandi expects S-grade sugar prices in the Kolhapur market to range between Rs 3,600 and Rs 3,750 per quintal over the next two weeks.
Ex-mill Sugar Prices as on Aug, 23 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3580 to 3620 |
₹3660 to 3700 |
|
Karnataka |
₹3730 to 3800 |
– |
|
Uttar Pradesh |
|
₹3845 to 3905 |
|
Gujarat |
₹3601 to 3631 |
₹3685 to 3731 |
|
Tamil Nadu |
₹3815 to 4025 |
₹3975 to 4125 |
|
Madhya Pradesh |
₹3730 to 3770 |
₹3820 to 3860 |
|
Punjab |
₹4000 to 4060 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Aug, 23 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,105.50 |
|
Kanpur |
M/30 |
₹4,053.00 |
|
Kolhapur |
M/30 |
₹3,895.50 |
|
Kolkata |
M/30 |
₹4,158.00 |
|
Muzaffarnagar |
M/30 |
₹4,053.00 |
|
Ahmedabad |
M/30 |
₹4,005.75 |
|
Banglore |
M/30 |
₹4,042.50 |
|
Chennai |
M/30 |
₹4,179.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $524.40 ton, whereas the New York Sugar #11 front month contract is trading at 18.33 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.900 whereas USD was trading with BRL at 5.5688, Crude futures traded at ₹6245, Crude WTI traded at $74.31 barrel. Sensex closed 33.05 points higher at 81086.21 whereas Nifty closed 11.65 points higher at 24823.15
News Round-Up
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Chief Minister Yogi Adityanath assures farmers of expansion of Morna sugar mill
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