ChiniMandi, Mumbai: 23rd Oct 2024
Domestic Market
Domestic sugar prices started to fall again
After trading stable for two sessions, domestic sugar prices fell by Rs 10 per quintal across major markets. Prices have decreased by Rs 120-140 per quintal from the recent high. 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 keeping prices lower.
The price of M-grade sugar in Muzaffarnagar ranges from Rs 3,820 to Rs 3,870 per quintal, whereas S-grade sugar in Kolhapur is priced between Rs 3,520 and Rs 3,590. 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, 23 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3500 to 3560 |
₹3580 to 3640 |
|
South Karnataka |
₹3630 to 3775 |
₹3630 to 3825 |
|
Uttar Pradesh |
|
₹3830 to 3870 |
|
Gujarat |
₹3591 to 3641 |
₹3665 to 3765 |
|
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, 23 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,084.50 |
|
Kanpur |
M/30 |
₹4,053.00 |
|
Kolhapur |
M/30 |
₹3,832.50 |
|
Kolkata |
M/30 |
₹4,126.50 |
|
Muzaffarnagar |
M/30 |
₹4,053.00 |
|
Ahmedabad |
M/30 |
₹3,979.50 |
|
Banglore |
M/30 |
₹4,021.50 |
|
Chennai |
M/30 |
₹4,126.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $572.70 ton, whereas the New York Sugar #11 front month contract is trading at 22.28 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 84.078 whereas USD was trading with BRL at 5.7211, Crude futures traded at ₹5960, Crude WTI traded at $70.66 barrel. Sensex closed 138.74 points lower at 80081.98 whereas Nifty closed 36.60 points lower at 24435.50
News Round-Up
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