ChiniMandi, Mumbai: 24th Dec 2024
Domestic Market
Domestic prices traded stable
After a slight increase over the last 3-4 sessions, domestic sugar prices in major markets were reported to be stable. As Christmas and New Year demand is met, prices are trading steady. Moreover, quota for the next month expected to be released in the next 2-3 days, which also kept the sentiment stable.
According to market participants, the monthly quota is expected to be around 22.0 lakh tons, lower by 1.0 lakh tons compared to the same month the previous year.
S-grade sugar in Kolhapur costs Rs 3,330-3,380 per quintal, while M-grade sugar in Muzaffarnagar costs Rs 3,720-3,750. Agrimandi.live predicts that the price of Kolhapur S-grade sugar will fall between Rs 3,260 and Rs 3,380 per quintal in the near future.
Ex-mill Sugar Prices as on Dec, 24 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3360 to 3400 |
₹3440 to 3470 |
|
South Karnataka |
₹3575 to 3600 |
₹3640 to 3650 |
|
Uttar Pradesh |
|
₹3730 to 3770 |
|
Gujarat |
₹3411 to 3461 |
₹3501 to 3511 |
|
Tamil Nadu |
₹3670 to 3775 |
₹3730 to 3850 |
|
Madhya Pradesh |
₹3450 to 3500 |
₹3520 to 3570 |
|
Punjab |
₹3700 to 3871 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Dec, 24 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3,969.00 |
|
Kanpur |
M/30 |
₹3,932.25 |
|
Kolhapur |
M/30 |
₹3,633.00 |
|
Kolkata |
M/30 |
₹3,979.50 |
|
Muzaffarnagar |
M/30 |
₹3,927.00 |
|
Ahmedabad |
M/30 |
₹3,780.00 |
|
Bangaluru |
M/30 |
₹3,832.50 |
|
Chennai |
M/30 |
₹3,948.00 |
At the time of writing this update London White Sugar #5 front month contract is trading at $494.70 ton, whereas the New York Sugar #11 front month contract is trading at 19.68 c/lb. The corn futures market trades at 430-0 and the ethanol Chicago trades at 1.62655s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 85.158 whereas USD was trading with BRL at 6.1606, Crude WTI traded at $69.90 barrel. Sensex closed 67.30 points down at 78,472.87 whereas Nifty closed 25.80 points lower at 23,727.65
News Round-Up</span
“Sweet & sour”: Impact of India’s sugar import & export policy
“Sweet & sour”: Impact of India’s sugar import & export policy
Sugar mills in Maharashtra, Karnataka, Bihar, and other states cleared 100% cane dues for 2023-24 season
Uttar Pradesh: Process regarding sugarcane price is ongoing, says Minister
Uttar Pradesh: Process regarding sugarcane price is ongoing, says Minister
