ChiniMandi, Mumbai: 26th June 2024
Domestic Market
Sugar prices traded stable
After a weak session, domestic sugar prices were traded stable across the major markets.
In an announcement on June 26, the food ministry allocated a monthly sugar quota of 24 lakh metric tonnes (LMT) for July 2024, which is similar to quantity allocated in July 2023 (24 LMT). It will be applicable from July 1, 2024. Following the quota announcement, the domestic market can witness price rise of Rs. 15 to 20 per quintal.
M-grade sugar in Muzaffarnagar trades in the range of Rs 3,835 and Rs 3,855 per quintal, while S-grade sugar in Kolhapur traded between Rs 3,570 and Rs 3,610. Agrimandi expects the price of S grade sugar in the Kolhapur market to fall between Rs 3,540 and Rs 3,660 per quintal in the next two weeks.
Ex-mill Sugar Prices as on June, 26 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3580 to 3610 |
₹3660 to 3690 |
|
Karnataka |
₹3740 to 3750 |
– |
|
Uttar Pradesh |
|
₹3835 to 3855 |
|
Gujarat |
₹3605 to 3641 |
₹3705 to 3731 |
|
Tamil Nadu |
₹3785 to 3850 |
₹3845 |
|
Madhya Pradesh |
₹3720 to 3780 |
₹3750 to 3800 |
|
Punjab |
₹3975 to 4060 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on June, 26 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,079.25 |
|
Kanpur |
M/30 |
₹4,037.25 |
|
Kolhapur |
M/30 |
₹3,853.50 |
|
Kolkata |
M/30 |
₹4,100.25 |
|
Muzaffarnagar |
M/30 |
₹4,037.25 |
|
Ahmedabad |
M/30 |
₹3,969.00 |
|
Banglore |
M/30 |
₹3,963.75 |
|
Chennai |
M/30 |
₹4,079.25 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $563.70 ton, whereas the New York Sugar #11 front month contract is trading at 19.24 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.567 whereas USD was trading with BRL at 5.4935, Crude futures traded at ₹6803, Crude WTI traded at $81.40 barrel. Sensex closed 620.73 points higher at 78674.25 whereas Nifty closed 147.50 points higher at 23868.80
News Round-Up
BSF foils another sugar smuggling attempt
Gulshan Polyols starts commercial operations of ethanol at Assam unit
Gulshan Polyols starts commercial operations of ethanol at Assam unit
