Domestic sugar prices reported to be stable
Sugar prices were said to remain stable for the second session in major markets due to strong demand at lower rates. Sugar production in Uttar Pradesh is expected to remain high year after year, putting upward pressure on prices in the near term.
M-grade sugar in Muzaffarnagar costs between Rs 3,760 and Rs 3,820 per quintal, whereas S-grade sugar in Kolhapur costs between Rs 3,480 and Rs 3,550 per quintal. Agrimandi expects S grade sugar in Kolhapur markets to trade between Rs 3,450 and Rs 3,560 per quintal over the next two weeks. However, prices in Solapur were reported to range between Rs 3,410 and 3,440 per quintal.
Meanwhile, in cycle 2, Oil Marketing Companies (OMCs) invited bids for the supply of approximately 267 crore litres of Denatured Anhydrous Ethanol for ESY 2023-24. Bidders are requested to provide quotes for ethanol production using only C-Heavy Molasses (CHM), Damaged Food Grain (DFG), and maize.
Ex-mill Sugar Prices as on January, 27 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3470 to 3500 |
₹3550 to 3580 |
|
Karnataka |
₹3700 |
₹3750 |
|
Uttar Pradesh |
|
₹3760 to 3840 |
|
Gujarat |
₹3611 to 3641 |
Old – ₹3581 to 3601 New – ₹3681 to 3701 |
|
Tamil Nadu |
₹3730 to 3820 |
₹3825 |
|
Madhya Pradesh |
₹3960 to 3710 |
₹3740 to 3760 |
|
Punjab |
₹3840 to 3860 |
|
|
(All the above rates are excluding GST) |
||
