ChiniMandi, Mumbai: 23rd Sep 2024
Domestic Market
Domestic sugar prices are reported as stable to weak
Domestic sugar prices were reported as stable to weak, with prices falling in Muzaffarnagar and remaining stable in Kolhapur. Prices in Uttar Pradesh are falling for the second consecutive session, following a shar rise last week. Demand is said to be low, which is weighing on prices. Furthermore, as crushing is expected to begin next month, prices are likely to remain under pressure.
In Muzaffarnagar, M-grade sugar costs between Rs 3,810 and Rs 3,870 per quintal, while S-grade sugar costs between Rs 3,580 and Rs 3,650 in Kolhapur. Agrimandi predicts that in the coming days, the price of S-grade sugar in Kolhapur will fall to between Rs 3,500 and Rs 3,650 per quintal.
Ex-mill Sugar Prices as on Sep, 23 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3570 to 3600 |
₹3650 to 3680 |
|
Karnataka |
₹3720 to 3825 |
₹3750 to 3875 |
|
Uttar Pradesh |
|
₹3810 to 3870 |
|
Gujarat |
₹3600 to 3630 |
₹3700 to 3750 |
|
Tamil Nadu |
₹3875 to 4000 |
₹3950 to 4100 |
|
Madhya Pradesh |
₹3730 to 3770 |
₹3975 |
|
Punjab |
₹4000 to 4060 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Sep, 23 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,084.50 |
|
Kanpur |
M/30 |
₹4,042.50 |
|
Kolhapur |
M/30 |
₹3,874.50 |
|
Kolkata |
M/30 |
₹4,137.00 |
|
Muzaffarnagar |
M/30 |
₹4,042.50 |
|
Ahmedabad |
M/30 |
₹4,021.50 |
|
Banglore |
M/30 |
₹4,053.00 |
|
Chennai |
M/30 |
₹4,168.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $597.60 ton, whereas the New York Sugar #11 front month contract is trading at 23.03 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.552 whereas USD was trading with BRL at 5.5601, Crude futures traded at ₹5973, Crude WTI traded at $71.22 barrel. Sensex closed 384.30 points higher at 84928.61 whereas Nifty closed 148.10 points higher at 25939.05
News Round-Up
Data accuracy: Various Group Sugar Mills develop their API module and around 100 mills are in advanced stage of integration
Industry urges government to hike ethanol prices; seeks long-term policy
Industry urges government to hike ethanol prices; seeks long-term policy
Requested Petroleum Minister to grant permission to sugar mills to set up ethanol pumps: Nitin Gadkari
