ChiniMandi, Mumbai: 26th Dec 2024
Domestic Market
Domestic prices continue to trade higher
After steady sentiment over the last two sessions, domestic sugar prices in major markets continued to trade higher and increased by Rs 10 per quintal. In an announcement on December 26, the Food Ministry allocated a monthly sugar quota of 22.5 lakh metric tonnes (LMT) for January 2025, which is 0.5 LMT lower than the quantity allocated in January 2024.
S-grade sugar in Kolhapur costs Rs 3,340-3,380 per quintal, while M-grade sugar in Muzaffarnagar costs Rs 3,730-3,760. Agrimandi.live predicts that the price of Kolhapur S-grade sugar will fall between Rs 3,260 and Rs 3,400 per quintal in the near future.
Ex-mill Sugar Prices as on Dec, 26 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3360 to 3400 |
₹3440 to 3470 |
|
South Karnataka |
₹3575 to 3600 |
₹3595 to 3650 |
|
Uttar Pradesh |
|
₹3740 to 3780 |
|
Gujarat |
₹3405 to 3451 |
₹3491 to 3561 |
|
Tamil Nadu |
₹3650 to 3775 |
₹3710 to 3850 |
|
Madhya Pradesh |
₹3570 to 3580 |
₹3620 to 3630 |
|
Punjab |
₹3710 to 3880 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Dec, 26 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3,979.50 |
|
Kanpur |
M/30 |
₹3,942.75 |
|
Kolhapur |
M/30 |
₹3,643.50 |
|
Kolkata |
M/30 |
₹3,990.00 |
|
Muzaffarnagar |
M/30 |
₹3,937.50 |
|
Ahmedabad |
M/30 |
₹3,790.50 |
|
Bangaluru |
M/30 |
₹3,843.00 |
|
Chennai |
M/30 |
₹3,958.50 |
At the time of writing this update London White Sugar #5 front month contract is trading at $494.10 ton, whereas the New York Sugar #11 front month contract is trading at 19.54 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 85.261 whereas USD was trading with BRL at 6.1534, Crude WTI traded at $70.53 barrel. Sensex closed 0.39 points down at 78,472.48 whereas Nifty closed 22.55 points higher at 23,750.20
News Round-Up
Increase in sugar MSP can ensure sustainability of entire sugar value chain: Tarun Sawhney
Increase in sugar MSP can ensure sustainability of entire sugar value chain: Tarun Sawhney
Bihar: Nine ethanol plants expected to set up in state
