ChiniMandi, Mumbai: 25th April 2024
Domestic Market
Domestic sugar prices continued to fall
Domestic sugar prices in the major markets continued to fall due to weak demand at higher price levels. Prices have corrected almost by Rs 40-50 per quintal from their recent high. Prices were reported to be Rs 10 per quintal lower in the major markets.
There were reports of much-needed rains in the major cane-growing regions of North Karnataka and West Maharashtra. These rains are likely to help revive crop conditions, as the region was experiencing severe drought and crops were stressed.
In Muzaffarnagar, M-grade sugar costs between Rs 3,860 and Rs 3,880 per quintal, whereas S-grade sugar costs between Rs 3,510 and Rs 3,550. Agrimandi expects the price of S grade sugar in the Kolhapur market to fall to between Rs 3,460 and Rs 3,580 per quintal within the next two weeks.
Ex-mill Sugar Prices as on April, 25 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3520 to 3540 |
₹3600 to 3620 |
|
Karnataka |
₹3800 |
– |
|
Uttar Pradesh |
|
₹3860 to 3880 |
|
Gujarat |
₹3595 to 3630 |
₹3695 to 3740 |
|
Tamil Nadu |
₹3770 to 3950 |
₹3860 |
|
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, 25 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,105.50 |
|
Kanpur |
M/30 |
₹4,063.50 |
|
Kolhapur |
M/30 |
₹3,822.00 |
|
Kolkata |
M/30 |
₹4,137.00 |
|
Muzaffarnagar |
M/30 |
₹4,058.25 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $568.00 ton, whereas the New York Sugar #11 front month contract is trading at 19.66 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.322 whereas USD was trading with BRL at 5.1472, Crude futures traded at ₹6911, Crude WTI traded at $82.92 barrel. Sensex closed 486.50 points higher at 74339.44 whereas Nifty ended 167.95 points higher at 22570.35
News Round-Up
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Sensex ends 486 points higher, Nifty above 22,550
