ChiniMandi, Mumbai: 24th April 2024
Domestic Market
Domestic sugar prices were reported to be stable to weak
Domestic sugar prices in the major markets were reported to be stable to weak due to low demand following a sharp increase. Prices were reported to be Rs 10 per quintal lower in Maharashtra and stable in Uttar Pradesh.
In Muzaffarnagar, M-grade sugar costs between Rs 3,870 and Rs 3,890 per quintal, while S-grade sugar ranges between Rs 3,520 and Rs 3,560 per quintal. Agrimandi anticipates that the price of S grade sugar in the Kolhapur market will fall to between Rs 3,460 and Rs 3,580 per quintal within the next two weeks.
Ex-mill Sugar Prices as on April, 24 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3530 to 3550 |
₹3610 to 3630 |
|
Karnataka |
₹3800 |
– |
|
Uttar Pradesh |
|
₹3870 to 3890 |
|
Gujarat |
₹3605 to 3640 |
₹3705 to 3750 |
|
Tamil Nadu |
₹3770 to 3950 |
– |
|
Madhya Pradesh |
₹3660 to 3700 |
₹3700 to 3760 |
|
Punjab |
₹3980 to 4030 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on April, 24 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,116.00 |
|
Kanpur |
M/30 |
₹4,074.00 |
|
Kolhapur |
M/30 |
₹3,832.50 |
|
Kolkata |
M/30 |
₹4,147.50 |
|
Muzaffarnagar |
M/30 |
₹4,068.75 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $574.90 ton, whereas the New York Sugar #11 front month contract is trading at 19.88 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.308 whereas USD was trading with BRL at 5.1322, Crude futures traded at ₹6915, Crude WTI traded at $82.92 barrel. Sensex closed 114.49 points higher at 73852.94 whereas Nifty ended 34.40 points higher at 22402.40
News Round-Up
Maharashtra: Sugar production reaches 109.67 lakh tonnes; 7 sugar mills continue crushing operations
Maharashtra: Sugar production reaches 109.67 lakh tonnes; 7 sugar mills continue crushing operations
Sustainability in sugar industry: Bio-based packaging offers new opportunities for sugarcane sector
Sustainability in sugar industry: Bio-based packaging offers new opportunities for sugarcane sector
Higher sugar MSP, ethanol production boost and enhanced ethanol procurement rates top priorities for sugar industry: Prakash Naiknavare
